Not all Western companies sever ties to Russia over Ukraine

Citigroup said Wednesday that selling its 11 Russian bank branches will be difficult because the country's economy has been cut off from the global financial system. Until then, Citi said it is “operating the business on a more limited basis” and is helping its U.S. and other corporate clients suspend their businesses in Russia.

That helps explain why Restaurant Brands International, owner of Burger King, is keeping its 800 restaurants open in Russia. And why Yum Brands, parent company of KFC and Pizza Hut, announced the closure of 70 company-owned KFCs across Russia, but not the nearly 1,000 franchisee-owned KFCs, or its 50 Pizza Hut locations.This sometimes applies to hotels as well: Marriott says its Russian hotels are owned by third parties, and it's evaluating their ability to remain open.

But there are companies that remain in Russia — whether in whole or in part — and say that it's because they view their products as essential. Other companies point to their employees’ livelihoods in rationalizing decisions to stay, or not completely sever ties.

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Not all Western companies sever ties to Russia over UkraineCompanies from BP to Google are curtailing business in Russia due to the war in Ukraine. But some companies are staying, saying they have franchise owners or employees to consider or they don't want to punish Russians by taking away food or medicine. Let’s not sit by and let two world wars have been in vein, where will you have been when they talk of what was once Ukraine. 🇺🇦🇬🇧🇪🇺 Boycott Burger King. Pepsi is protecting children's health (not providing and soda products).
Source: AP - 🏆 728. / 51 Read more »