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WATCH | McDonald's, Starbucks and Pepsi among companies in corporate boycott of Russia

Europe and US call for Russia to lose its 'most favoured nation' status

11 March 2022 - 15:30 By TIMESLIVE VIDEO
McDonald's is among the major companies to halt operations in Russia. File image.
McDonald's is among the major companies to halt operations in Russia. File image.
Image: Anton Vaganov/Reuters

The war in Ukraine has entered a third week with Russia beginning to feel the force of financial sanctions. 

The US and EU have called for Russia's "most favoured nation" status to be revoked.

Stripping Russia of the status would result in increased import tariffs and quotas for its exports. 

Meanwhile, Russian citizens are beginning to experience the effects of sanctions. Some told AFP that corporate closures will have a limited effect on their lives. 

McDonald's is among the big brands that temporarily suspended operations in Russia. Coco-Cola, Starbucks and Pepsi have also halted business in the country.

TimesLIVE


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