McDonald’s Says Russia Store Closures to Cost $50 Million per Month

People sit on the terrace of a closed McDonald's restaurant in Moscow on Aug. 21, 2014. (Alexander Nemenov/AFP via Getty Images)

McDonald’s Corp. said on Wednesday the temporary closure of its 847 stores in Russia will cost the fast food chain about $50 million a month.

The company said on Tuesday it would temporarily close all of its restaurants in Russia including its iconic Pushkin Square location, increasing pressure on other global brands to pause operations in the country following Moscow’s invasion of Ukraine.