• Bloomberg, Tuesday, May 17, 2022 5:54 PM

McDonald’s is leaving Russia after more than 30 years in the country in response to the country’s invasion of the Ukraine. “The departure carries huge symbolic as well as economic weight because the fast-food chain was one of the first Western brands to set up shop in Russia when it opened a branch in Moscow’s Pushkin Square in 1990, just before the fall of the Soviet Union,” per Bloomberg. “A reported 30,000 people lined up at the restaurant on its opening day.” The company is seeking a buyer after temporarily closing its restaurants, the company said in a statement. It expects to take a write-off of $1.2 billion to $1.4 billion for the move.

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