The US fast food chain McDonald's is going out of business in Russia as a result of the Russian war against Ukraine.
After more than 30 years in the country, McDonald's wants to sell the branches to a Russian buyer, as the group announced on Monday in Chicago.
The company had come to the conclusion that ownership of the Russian activities was no longer tenable and no longer in line with the company's values.
The withdrawal is of great significance, both symbolically and economically, as the fast-food chain was one of the first Western brands to settle in Russia when it opened a branch in Pushkin Square in 1990, just before the collapse of the Soviet Union Moscow opened.
The company had already announced on March 8 that it would temporarily close the restaurants in the country.
The new owner of the restaurants should no longer be able to use the brand symbols such as the name McDonald's, the logo, the branding and the menu.
According to its own statements, McDonald's will book special costs of 1.2 to 1.4 billion US dollars for the withdrawal from Russia, including write-downs and foreign currency losses.
The 62,000 people employed by McDonald's in Russia will continue to be paid while it searches for a buyer.