McDonald’s is selling all 850 restaurants in Russia and will begin removing gold arches in the country

McDonald’s has announced it will sell all 850 restaurants in Russia, more than three decades after it opened its first store in the country.

The global fast-food giant cited the suffering caused by Vladimir Putin’s invasion of Ukraine as the reason for the move.

McDonald’s CEO Chris Kempczinski said: “It is impossible to ignore the humanitarian crisis caused by the war in Ukraine.”

“And it’s impossible to imagine that the Golden Arches represent the same hope and promise that made us enter the Russian market 32 ​​years ago,” he added.

The Chicago-based company said in early March it was closing its Russian stores but would pay its employees. But now it is looking for a Russian buyer to hire its staff.

The “dedication and loyalty” of its workers and its suppliers in Russia made the decision to sell its Russian business difficult, Mr. Kempczinski said.

The company has announced that it will begin removing its gold arches and signs in the country.

McDonald’s decision comes after other big firms including British energy giants Shell and BP left Russia over concerns about Vladimir Putin’s invasion of Ukraine.

Since Russian troops entered Ukrainian territory on February 24, thousands of civilians have been killed and more than 6 million others have fled Ukraine.