Sanctions? We're not lovin' it! Moscow McDonald's is swamped with customers desperate to get a Big Mac before the chain closes across Russia due to Ukrainian war
A McDonald's in Moscow was swamped last night with customers desperate to get one last Big Mac before the American giant shutters its restaurants across Russia.
Hundreds of cars were seen queuing in the snow outside the fast food joint, with one witness saying the line stretched for almost 'half a mile'.
The scenes came after McDonald's said it will close its 850 locations in Russia as western companies continue to pull out of the country following Vladimir Putin's devastating invasion in Ukraine that has sparked global outrage.
Russians have been finding it increasingly difficult to get their hands on Western goods as more sanctions are imposed, pummelling the country's economy.
As bombs continued to fall on Ukraine, a video of the queue showed dozens of cars waiting below McDonald's iconic glowing yellow 'M', suggesting the people of Russia are not loving the brutal sanctions.
As the camera panned, the queue of cars for the drive-through service could be seen curving around a round-about, under an overpass and off into the distance.
A video of the queue outside the Moscow McDonald's showed dozens of cars waiting below McDonald's iconic yellow 'M'. As the camera panned, the queue of cars could be seen curving around a round-about, under an overpass and off into the distance
When it the chain first opened in 1990, long lines of Russians were also seen outside McDonald's restaurants, with people eager to try Western fast food
The Kremlin's propaganda machine has worked tirelessly to control the flow of information about the war in Ukraine, calling it a 'special military operation' and selectively releasing footage to paint Kyiv as the aggressor.
It was clearly unable to stop the word spreading about McDonald's action, however, with Russians lining up to get their fast-food-fix before it's too late.
The American company directly owns and operates most of its locations in Russia, where it has had an iconic presence since opening a restaurant in Moscow in 1990, signaling the end of the Cold War.
When it the chain first opened, long lines of Russians were also seen outside McDonald's restaurants, with people eager to try Western fast food.
The company said it would continue paying its 62,000 employees there 'who have poured their heart and soul into our McDonald's brand.'
In an open letter to employees, McDonald's President and CEO Chris Kempckinski said closing those stores for now is the right thing to do.
'Our values mean we cannot ignore the needless human suffering unfolding in Ukraine,' Kempczinski said, adding that it's impossible to know when the company will be able to reopen its Russian stores.
'The situation is extraordinarily challenging for a global brand like ours, and there are many considerations,' Kempczinski wrote in the letter.
McDonald's was not the first company to be swamped by Russian customers after announcing it would close for business in the country.
Last week, shoppers swarmed IKEA stores to pick up last-minute bargains in Moscow and St Petersburg as well as at Siberian outlets in Omsk and Novosibirsk, all of which have now closed their doors.
People enter a McDonald's restaurant in Moscow in a file photo. Today, McDonald's has 847 locations in Russia, and is facing mounting calls to pull out of the country
People eat outside a McDonald's fast food restaurant in Moscow in October 2021 - but the giant's 850 Russian restaurants have now been shuttered due to Putin's invasion of Ukraine
McDonald's works with hundreds of Russian suppliers, for example, and serves millions of customers each day.
McDonald's has also temporarily closed 108 restaurants in Ukraine and continues to pay those employees.
McDonald's could take a big financial hit because of the closures. In a recent regulatory filing, the Chicago-headquartered company said its restaurants in Russia and Ukraine contributed 9 percent of its annual revenue, or around $2billion.
Unlike other big fast food brands in Russia that are owned by franchisees - including KFC, Pizza Hut, Starbucks and Burger King - McDonald´s owns 84 percent of its Russian locations.
McDonald's said Tuesday it has donated more than $5 million to its employee assistance fund and to relief efforts.
McDonald's was joined by Starbucks, Coca-Cola, PepsiCo and General Electric by announcing Tuesday that they will temporarily suspending business in Russia.
Some companies, such as McDonald's, say they will keep paying wages for now to their workers in Russia.
Speaking on Wednesday, a British professor said that the scale of sanctions from western companies 'may have shocked the Russian elite'.
Speaking on BBC Radio 4's Today programme, Dr James Rodgers, a reader in International Journalism at City, University of London, said: 'These companies are taking these decisions now. It's going to be pretty hard to see how they can reverse them in the short-term.
'This is an important symbol of the way that Russia is seen by the outside world.
'The scale of the sanctions may have shocked Russian's political elite and Russia's leadership, but Russia is preparing to try and survive on its own and part of that means not having these western companies represented there.'
A Lenta supermarket is empty in Siberia with shoppers raiding the shelves and rations imposed in Russia
Consumers are being told to limit the number of items in their shopping basket to ensure there is enough food to go around
Last week, shoppers swarmed to stores to pick up last-minute bargains in Moscow (pictured) and St Petersburg as well as at Siberian outlets in Omsk and Novosibirsk, all of which closed their doors today for the foreseeable future along with several other locations
The country is facing the gravest economic crisis since the 1991 fall of the Soviet Union after crippling sanctions were imposed on almost its entire financial and corporate system.
As of the morning of March 9, $1USD was equal to 133 Russian roubles. Before the invasion on February 24, the value was around 84 roubles to $1USD - demonstrating its rapid value collapse.
The government has more than doubled its interest rate to 20 percent in an attempt to stop its currency's value from deteriorating further.
A leading credit rating agency warned today Russia will default on its debts 'imminently', as sanctions over Ukraine continue to pummel the country's economy.
The warning came from Fitch Ratings on Tuesday which again downgraded Russia's sovereign debt rating farther into junk territory from 'B' to 'C,' saying the decision reflects the view that a default is 'imminent.'
Like other major ratings agencies, Fitch had already slashed Russia's rating earlier this month to 'junk' status - which is the category of countries at risk of not being able to repay their debt.
'The 'C' rating reflects Fitch's view that a sovereign default is imminent,' the agency said in a statement, adding its new downgrade came because recent developments had 'further undermined Russia's willingness to service government debt.'
Russia's financial markets have been thrown into a turmoil by Western sanctions after President Vladimir Putin ordered the invasion of Ukraine, raising significant concerns over its ability and willingness to pay its debts.
Yesterday, it was reported that anger was growing in Russia over its economic situation as frustrated shoppers found some shelves empty.
The Kremlin is desperately trying to crack down on any dissent to the brutal invasion of Ukraine and a total of 13,500 demonstrators have now been arrested since the war was waged, 100 of them today.
Anti-Putin sentiment is hitting the high street with consumers told to limit the number of items in their shopping baskets as sanctions start to bite.
Some say they may have to leave the country to secure a better life for their families, with Russians facing a return to the hardships of the 1990s when the country experienced food queues and hyperinflation after the fall of the Soviet Union.
One notice to shoppers in St Petersburg read: 'It is important that there are enough goods for everyone. We are forced to temporarily impose restrictions on high-demand goods. Up to ten pieces per purchase.'
There are suggestions that some groceries are already being rationed by Vladimir Putin who is anticipating a prolonged period without the normal influx of Western goods and money.
Major retailers such as Zara, H&M, Ikea and many others have also suspended sales in Russia, closing their doors in many shopping centres in the capital Moscow.
The world's top fashion houses such as Gucci, Prada, Dior and Fenti also shut from Monday.
Meanwhile Michelle Bachelet, the top UN human rights official said the ability to criticise public policy in Russia, particularly for its decision to invade Ukraine, is 'narrowing' because of the 'unlawful' detentions.
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2022-03-09 10:04:41Z
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