Starbucks officially leaving Russian market

Starbucks Corp., the US owner of the world's biggest coffee house chain, has announced the decision to withdraw from the Russian market.

The corporation will not be represented on the Russian market, however, it will continue rendering support to 2,000 employees in Russia, including salary during six months and assistance with employment, Reuters reports with reference to the company’s press-release.

Earlier, it was reported that Starbucks plans to liquidate the Russian legal entity "Coffee Sirena", as well as dismiss some employees in the coffee house chain in the Russian Federation.

Starbucks announced in March 2022 that it was closing its coffee shops in Russia.

Then the corporation suspended the supply of raw materials to Russia and the activity of its coffee houses.

The information went viral on May 19 that McDonald's, which officially suspended activity in Russia on March 14, 2022 will sell its business in Russia to its current licensee, Siberian businessman Alexander Govor.

CEO of McDonald's in Russia, Oleg Paroev, said that a new brand of McDonald's restaurants in Russia will not keep the corporate yellow letter “M”.