May 23, 2022 - Economy & Business

Starbucks closes its 130 Russian stores amid war in Ukraine

Moscow starbucks
A closed Starbucks at the Afimall City shopping mall on March 26 in Moscow. Photo: Oleg Nikishin/Getty Images

Starbucks announced Monday that it will permanently close its stores in Russia, putting an end to its 15 years of operation in the country.

Why it matters: Like other international companies, Starbucks suspended its operations in Russia in March, during the early days of Russia's invasion.

  • The announcement comes a week after McDonald's said it would exit the country.

The big picture: "Starbucks has made the decision to exit and no longer have a brand presence in the market," the company said in a press release.

  • Starbucks added that it will continue to pay its 2,000 employees in Russia for six months and will help them transition to new jobs.
  • The coffee giant has 130 stores in the country.
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