McDonald's, Starbucks, Coke, Pepsi join companies suspending business in Russia

McDonald's, Starbucks, Coca-Cola, PepsiCo and Yum! Brands are the latest multinational companies to announce they're pausing business operations in Russia to protest the country's invasion of Ukraine. 

Over the past several days, the U.S.-based companies have faced mounting pressure on social media to cut ties with Russia due to their large footprint in the country.

On Tuesday, McDonald's announced in a statement that it will temporarily close its more than 800 restaurants and pause all operations in Russia. The fast food chain said it will continue to pay salaries of the 62,000 Russian employees who will be affected by the closure.

"The conflict in Ukraine and the humanitarian crisis in Europe has caused unspeakable suffering to innocent people," said CEO Chris Kempczinski. "We join the world in condemning aggression and violence and praying for peace."

Starbucks initially denounced Russia's attack of Ukraine, but made no move to shutter its 130 stores in the country that are owned and operated by a licensed partner.

However, on Tuesday, a few hours after McDonalds' announcement, Starbucks CEO Kevin Johnson stated online that the coffee chain will suspend all business operations in Russia. 

Yum! Brands said on Monday it would curtail some dealings in Russia, but did not announce until Tuesday evening that its approximately 1,000 Kentucky Fried Chicken restaurants and 50 Pizza Huts in the country will temporarily close. 

Coca-Cola and PepsiCo were initially silent about their plans, but late Tuesday afternoon, Coca-Cola announced it would suspend all operations in Russia, while PepsiCo said it would stop making a number of products. 

"Given the horrific events occurring in Ukraine we are announcing the suspension of the sale of Pepsi-Cola, and our global beverage brands in Russia," said PepsiCo CEO Ramon Laguarta in a statement. 

He said the company will continue manufacturing other products, including essentials such as milk, baby formula and baby food. 

The companies join more than 300 businesses that have curtailed their Russian operations, according to a report by Jeffrey Sonnenfeld, a management professor at Yale University.

Those companies include Ikea, Apple, H&M, Canada Goose, Visa and Mastercard. 

Canadian companies, convenience store chain Couche-Tard, and e-commerce platform Shopify also announced this week that they're suspending business dealings in Russia. 

Sonnenfeld has identified more than 35 companies that still have "significant exposure" in Russia. A number of those businesses, such as Burger King and Nestlé have become targets on social media where they face calls for boycotts.