May 23, 2022 - Economy

Starbucks closes its 130 Russian stores amid war in Ukraine

Ivana Saric

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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Starbucks closes its 130 Russian stores amid war in Ukraine

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