McDonald’s has begun the process of selling its Russian business and removing its company from the country, marking the latest major corporation to make a clean break from the country following its invasion of Ukraine.

The fast-food chain had suspended its operations in Russia in early March, but company officials said Monday they would sell its “entire portfolio” of Russian business to a local buyer over the coming weeks. It’s not entirely clear who the prospective buyer is, and the company did not give further details of the sale.

RUSSIAN NAVY’S OLDEST SUBMARINE TO REENTER SERVICE AFTER REPAIRS

“The humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald’s to conclude that continued ownership of the business in Russia is no longer tenable, nor is it consistent with McDonald’s values,” the company said in a statement.

The sale includes the company’s 850 restaurants, which have been operating in the country for more than three decades after the fall of the Berlin Wall. In Russia, McDonald’s employs roughly 62,000 people, whom company officials said they will continue to pay until the transaction is complete.

McDonald’s will begin the process of “de-Arching” its buildings, removing the infamous golden arches logo, branding, name, and menus from all its restaurants. The company will retain its trademark in Russia, the company noted.

The company has also vowed to ensure all of its workers will be employed by the future buyer, noting, “Their dedication and loyalty to McDonald’s make today’s announcement extremely difficult.”

“However, we have a commitment to our global community and must remain steadfast in our values,” said Chris Kempczinski, president and CEO of McDonald’s. “And our commitment to our values means that we can no longer keep the Arches shining there.”

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

The company’s exit is the latest of a string of American corporations exiting Russia, including Starbucks, Coca-Cola, and Pepsi.

McDonald’s restaurants in Ukraine remain closed amid the war with Russia that began in late February, with all of its employees still being paid, according to company officials. The fast-food giant is expected to record a charge against earnings of about $1.2 billion to $1.4 billion amid its closure.