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You are here News International Golden arches to go dark in Russia as McDonald's exits after 30 years

Golden arches to go dark in Russia as McDonald's exits after 30 years

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McDonald to leave Russia after thirty yearsMcDonald's Corp (MCD.N) on Monday became one of the biggest global brands to exit Russia, laying out plans to sell all its restaurants after operating in the country for more than 30 years following the invasion of Ukraine.

The world's largest burger chain, which owns about 84% of its nearly 850 restaurants in Russia, will take a related non-cash charge of up to $1.4 billion following its sale.

McDonald's had in March decided to close its restaurants in the country, including the iconic Pushkin Square location in central Moscow - a symbol of flourishing American capitalism in the dying embers of the Soviet Union.

The burger chain represented the thawing of Cold War tensions and became a way to sample Western food and spirit for millions of people, even though the cost of a burger was several times bigger than the daily budgets of many city dwellers.

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