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Starbucks suspending all business activity in Russia

Published 03/08/2022, 03:20 PM
Updated 03/08/2022, 03:26 PM
© Reuters. A customer exits a Starbucks in Buffalo, New York, U.S., December 7, 2021.  REUTERS/Lindsay DeDario
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By Hilary Russ

NEW YORK (Reuters) - Coffee giant Starbucks Corp (NASDAQ:SBUX) said on Tuesday that it is suspending all business activity in Russia, including shipment of its products and cafes run by a licensee.

© Reuters. A customer exits a Starbucks in Buffalo, New York, U.S., December 7, 2021.  REUTERS/Lindsay DeDario

The company said that Kuwait-based Alshaya Group, which operates at least 100 Starbucks cafes in Russia, will "provide support to the nearly 2,000 partners in Russia who depend on Starbucks for their livelihood."

McDonald's Corp (NYSE:MCD) on Tuesday also said it would pause operations for its 847 restaurants in Russia, most of which are company-owned.

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