Home > News > World
Thursday April 10, 2014 MYT 11:20:02 PM
Thursday April 10, 2014 MYT 11:21:07 PM
MOSCOW (Reuters) - German retailer Metro said on Thursday it had temporarily shut its two cash-and-carry stores in Crimea, now annexed by Russia.
"The two Crimean stores have been closed for internal reasons. We plan to re-open the stores in the next week," said Olesya Olenytska, a spokeswoman for Metro Cash & Carry Ukraine.
The company declined to elaborate on the reasons behind the move but analysts said it most likely closed the stores in order to bring its operations in Crimea into conformity with Russian regulations.
Russia's annexation of Crimea from Ukraine, which Kiev, the United States and European Union do not acknowledge, has triggered the worst stand-off with the West since the Cold War and has worried companies with assets in the region as it is unclear how the crises may affect their business.
U.S. fast-food chain McDonald's Corp said last week that it had closed its three restaurants in Crimea while "evaluating potential business and regulatory implications" of the situation.
Metro's Ukrainian unit has two stores in Crimea - one in Sevastopol and one in Simferopol - out of a total of 33 in Ukraine. The unit sources more than 90 percent of goods from Ukrainian producers, importers and distributors.
(Reporting by Maria Kiselyova; Additional reporting by Matthias Inverardi Editing by Jeremy Gaunt)
Germany concerned about events in Crimea - minister
France, Germany and Poland warn on Crimea instability
Crimea referendum illegal, no OSCE monitoring - Swiss
Crimea switches to Moscow time amid incorporation frenzy
Crimea to disband Ukrainian military units - Interfax
Budget pressure unlikely to deflect Iran from nuclear goals
China says officials should learn minority languages
China tells U.S. opposes all forms of cyber attacks, 'terrorism'
French villa owned by ousted Chinese politician Bo up for sale - report
Ladies, time to stand up and fight for your man
Looking out for your ears
Africa – surfing capital of the world
Remembering Tsunami 2004: A village washed away
Xiaomi raising over US$1bil from investors including GIC
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)