Starbucks is suspending all business activity in Russia as Vladimir Putin’s forces continue their nearly two-week-old invasion of Ukraine.
The announcement from the coffee chain comes after McDonald’s said that it would temporarily close its restaurants in the country. The burger chain had faced criticism for staying silent on the war, given its large footprint in Russia.
Starbucks has much smaller exposure to the Russian and Ukrainian markets. The company has about 130 outlets in Russia and Ukraine. They are all licensed locations, so the Seattle-based company itself doesn’t operate them. Cowen analyst Andrew Charles estimated that they account for less than 1% of Starbucks’ global revenue.