Starbucks Corp has announced that it will leave the Russian market after almost 15 years.
The Seattle-based Starbucks has 130 stores in Russia, wholly owned and operated by its licensee Alshaya Group, which employs about 2,000 people.
Starbucks did not provide details on the financial implications of the exit. In early March, Starbucks closed its stores and suspended all activities in Russia, including the delivery of its products to the country.
Starbucks, which opened its first store in Russia in 2007, said it would continue to support its employees there, including paying them for six months.