Fast food restaurant companies KFC and Pizza Hut have suspended their operations in Russia amid the ongoing Russia-Ukraine war. According to incoming reports, the news has been confirmed by the parent company of the two fast food chains called Yum Brands Inc, which stated on March 8 that it was pausing investment in Putin's Russia and halting operations at fast food chains.
"Yum Brands Inc, the parent company of the two fast food chains, said on March 8 it was pausing investment in Russia and halting operations at its restaurants. Yum has at least 1,000 KFC and 50 Pizza Hut locations in Russia," according to reports released by The Kyiv Independent.
Universal Music Group to suspend business in Russia
Amid Russia's Invasion of Ukraine, Universal Music Group has also decided to suspend its business in Putin's Russia. The world's largest music company announced on March 8 that it will suspend all operations and shut down its offices in Russia.
Coca-Cola Also Suspends Business in Russia
Following international pressure amid the ongoing Ukraine-Russia war to withdraw from the Russian market, beverage company Coca-Cola has also announced that it will temporarily suspend its business in the country invading Ukraine.
Russia Suspends Sale of Foreign Currencies
On the other hand, Russia has suspended sale of foreign currencies. The country has released a notice citing that customers will be able to withdraw a maximum of $10,000 only in foreign currency from their accounts. In addition to this, all other funds will now be paid in rubles, the Russian government said, according to latest reports.
IMF To Consider $1.4 Billion in Emergency Funding for War-Torn Ukraine
Meanwhile, International Monetary Fund (IMF) is willing to consider $1.4 billion in emergency funding for war-torn Ukraine today, match 9, 2022. IMF Director Kristalina Georgieva said the organization's executive board is poised to approve the financial aid to help Ukraine fend off Russia's aggression, according to The Kyiv Independent.