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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 .
This amounted to the largest foreign debt in the world at the time. France was the major lender to Russia and French investors financed the creation of iron and steel industries and mining operations. In 1914, 80% of the Russian government debt was held in France and 14% in Great Britain. [2]
The world's largest burger chain, which owns about 84% of its nearly 850 restaurants in Russia, will take a related non-cash charge of up to $1.4 billion following its sale.
Western companies with iconic brands like Coca-Cola that exit Russia face years of battling knockoffs and unauthorized imports clamoring to fill the void they leave behind, a risky bid as courts ...
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 ...
McDonald's said Monday it plans to "de-arch" all restaurants in Russia, meaning its name, branding, menu, and logo can't be used.
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This is a list of countries by external debt: it is the total public and private debt owed to nonresidents repayable in internationally accepted currencies, goods or services, where the public debt is the money or credit owed by any level of government, from central to local, and the private debt the money or credit owed by private households or private corporations based on the country under ...