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McDonald’s has begun a process of selling its business in Russia after 30 years of operating its restaurants in the country following Moscow’s invasion of Ukraine.

In March, McDonald’s closed all of its restaurants in Russia, including its Pushkin Square site in the capital, which was the country’s first.

As part of the exit, the company expects to take a non-cash charge of around $1.2bn (£980m) to $1.4bn.

“The humanitarian crisis caused by the war in Ukraine and the precipitating unpredictable operating environment have led McDonald’s to conclude that continued ownership of the business in Russia is no longer tenable,” McDonald’s said.

More soon …

theguardian Gt

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