Starbucks withdraws from Russia
18:53
After Russia invaded Ukraine militarily in late February, the world's largest coffee shop chain, founded in 1971 in Seattle, announced that it was staying in the Russian market but would donate all profits earned there to support Ukrainian refugees.
However, as more attacks by the Russian army on Ukrainian civilians took place and the pressure of Western societies on foreign corporations operating in Russia grew, Starbucks management decided to suspend the operations of all of its 130 locations operating on the Russian market.
This meant that all Russian employees of the American coffee chain did not lose their jobs or source of income. Now, however, Starbucks has officially announced that it is completely disappearing from the Russian market, where it has been present since 2007.
It is not yet known what losses will be incurred by the American company in connection with the withdrawal from the Russian market, but they may not be large, since this market on a global scale generated less than 1% of revenues for Starbucks.
