McDonald's is temporarily closing all of its 850 restaurants in Russia in response to the Ukraine crisis, AP reported.

The company said it would continue to pay the salaries of its 62,000 employees in Russia “who have poured their heart and soul into our McDonald’s brand.”  But in an open letter to employees, McDonald's president and chief executive Chris Kempczinski said closing the restaurants was the right decision at this time.

“Our values mean we cannot ignore the needless human suffering unfolding in Ukraine,” Kempczinski said.

McDonald's has also temporarily closed 100 restaurants in Ukraine and continues to pay employees.

McDonald's could take a big financial hit because of the closures. In a recent regulatory filing, the Chicago-based company said its restaurants in Russia and Ukraine contributed 9% of its annual revenue, or around $2 billion.