Major U.S. brands McDonald’s (MCD), Coca-Cola (KO) and Starbucks (SBUX) have each halted their business operations and sales in Russia amid an intensifying backlash over the invasion of Ukraine.
The iconic brands, viewed around the world as the face of U.S. capitalism, join hundreds of other global companies that have halted work in Russia since the war began. PepsiCo (PEP) said it would suspend soft drink sales in Russia but would continue to sell daily essentials such as milk and baby formula.
After days of criticism on social media, companies with larger or more entrenched operations in Russia are starting to relent as the death toll rises in Ukraine and millions of refugees flee. The moves to step back from Russia will further isolate the nation of 144 million people, which is the world’s 11th-largest economy.
Other major companies that have announced a scaling back of their Russia operations include
PayPal Holdings (PYPL), which has suspended services in the country; Amazon’s (AMZN) cloud-computing unit announced it will stop accepting new customers in Russia or Belarus; and
Rolex, the biggest luxury Swiss watch brand, said it will halt exports to Russia.
Some companies left the door open to return to operations in Russia if circumstances change. McDonald’s and Starbucks each said they will continue to pay workers while closing their locations in the country.