Support The Moscow Times!

Russia Needs McDonald's and Coca-Cola — Kudrin

Former Russian Finance Minister Alexei Kudrin has leapt to the defense of McDonald's and Coca-Cola after a senior lawmaker suggested that they leave the Russian market because of Washington's clash with Moscow over Ukraine.

With Russia already set to enter deep recession this year, Kudrin slammed the proposal as economic self-harm.

“If high-tech U.S. companies limit their supplies because of political pressure from a few deputies, it will really hit Russian industry,” tweeted Kudrin, who served as the country's finance minister between 2000 and 2011.

Kudrin's comments came after Alexei Pushkov, the head of the Russian parliament's foreign affairs committee, tweeted on Thursday: “Don't McDonald's and Coca-Cola want to support [U.S. President Barack] Obama's sanctions and rid us of their products? They would stick to principles and we would be healthier.”

The United States imposed sanctions on Russia last year for its support of separatists in Ukraine, prompting counter-sanctions from Moscow and resurgent anti-American sentiment. The sanctions, combined with a fall in the price of Russian export oil, have paralyzed the Russian economy.

Kudrin on Friday condemned Pushkov's comments, saying the withdrawal of the companies would harm the local workforce and domestic suppliers.

“It seems Mr. Pushkov does not know that 85 percent of raw produce delivered to McDonald's comes from more than 160 Russian companies,” Kudrin said on Twitter.

He added in a separate message: “Coca-Cola buys more than 75 percent of its raw materials in Russia. Thousands of people would be left without jobs — a great anti-crisis program.”

Coca-Cola and McDonald's both have large businesses in Russia with outlets and infrastructure across the country. Both companies saw sales growth in the country slow in 2014.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more