Russia Invades Ukraine: KFC & Pizza Hut's Parent company suspends investments in Russia

American company Yum! Brands, which owns fast-food restaurants- KFC and Pizza Hut, has suspended investments in Russia. The move comes as the tensions between Ukraine and Russia transcends into the 13th day and civilians began to evacuate the war-torn nation. The statement by the company about the suspension of investments in Russia was published on Tuesday, on its website. 

The statement reads, "Like many others around the world, we are shocked by the tragic events unfolding in Ukraine. Yum! Brands has suspended all investment and restaurant openings in Russia and is considering additional measures."

Yum! Brands has joined the list of enterprises, including Deutsche Post, DHL, US-based United Parcel Service Inc and FedEx Corp - two of the world's largest logistics companies, apparel manufacturer Levi Strauss & Co. and others, that have either suspended their operations or discontinued their services in Russia and Belarus. 

On Monday, Levi Strauss & Co. announced that they are suspending their work on the Russian market. The company also stated that it will donate more than $3,00,000 to non-profit organizations providing humanitarian aid to those impacted by the ongoing war. While DHL, in a message on their website, stated that the reception of parcels in both countries has been suspended until further notice. 

As the Russian troops continue to invade its neighbouring country, Ukraine’s foreign minister, Dmytro Kuleba on Tuesday, March 8, demanded in a defiant tone for foreign companies in America, Europe, and the West to immediately halt operations with Russia over the latter’s military offensive against Ukrainian civilians. Taking to Twitter, he posted a letter requesting the foreign companies to sever business ties with Moscow in an impassioned tweet.

"Ukraine requests the ethically and socially responsible global businesses to stop or suspend operations with or in Russia, therefore refusing to finance its violence, murders, and crimes against humanity,” Ukraine’s foreign minister asserted on Tuesday. 

Meanwhile, POTUS Joe Biden has announced a ban on Russian oil imports, toughening the toll on the Russian economy in retaliation for the invasion of Ukraine. Australia has also imposed another round of sanctions against Russia. "The new round of sanctions will impose targeted financial sanctions on the Armed Forces of the Russian Federation, and targeted financial sanctions and travel bans against an additional six senior Russian military commanders responsible for implementing naval, ground and air attacks on Ukraine," said the statement.