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After 14 years of planning and negotiations, McDonald's Canada president George Cohon was permitted to open the first McDonald's in Russia by the Soviet government in 1990. The entry of the iconic American brand into the country was seen as a symbol of ongoing economic and political reforms in the Soviet Union .
McDonald’s joined the growing list of companies shutting down operations in Russia after announcing on Tuesday that it would temporarily close 850 locations in the country.The company will ...
The major brands have announced the move in response to the country’s invasion of Ukraine.
McDonald’s closed 847 restaurants, but said it would continue paying salaries to its 62,000 employees in Russia. Paul Musgrave, a Political Scientist at the University of Massachusetts Amherst ...
Opening of the first Vkusno i tochka restaurant in Pushkin Square, Moscow, 12 June 2022.Formerly the first Russian McDonald's in the country. On 8 March 2022, facing continued pressure due to the Russian invasion of Ukraine, McDonald's announced the temporary suspension of operation of its restaurants in Russia, while also announcing at the same time that it would continue to pay its employees ...
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This was its first such default since 1918, back then it was just ruble-denominated bonds, not foreign currency debt. [2] [3] Before that, on 2 June, Russia defaulted on the 30-day interest, incorrectly not counting interest for the grace period, [4] but a failure to pay $1.9 million was not sufficient to trigger a cross-default across other ...
McDonald's quit Russia after a Western backlash against Moscow's military campaign in Ukraine, which included a barrage of economic sanctions, and sold all the restaurants it owned to a local ...