After nearly 15 years in Russia, Starbucks announced on Monday that it will exit the market, as the coffee company joins fast food chain McDonald's and ends its presence in the country.
The Seattle-based coffee giant has 130 stores in Russia, with some 2-thousand employees, all operated through a licensee.
Employees will get paid for six months and Starbucks says it will help them find new jobs.
The coffee company initially suspended all business activity in Russia in March, including product shipments to the country, following Moscow's invasion of Ukraine.
Starbucks hasn't provided details of the financial impact the exit will have.