Farm Frites forced to delay construction of Russian factory
"We are not looking for a new investor"
The European Union has issued new economic sanctions against Russia after flight MH17 was shut down by Ukrainian rebels, for which it partially blames Russia. Russia denies any wrongdoing in the disaster which cost 298 people their lives (among them 193 Dutch people). The disrespectful behaviour of the rebels in regards to the victims and European observers has also angered quite a few people.
The first economic victim is Farm Frites, which had hoped to get a loan for a new Russian factory, destined to open in 2016. This particular factory would become a supplier for every Russian McDonald's, but the European Union has told every bank to respect a Russian boycott. This means that there are no funds available to do anything in Russia, which in turn means that Farm Frites will have to delay its plans.
Farm Frites will not be looking to find a new investor as the situation in the region remains very unstable. "Right now, we are waiting to see how the situation develops as new from Russia changes every day," advisor Simon Quest told Volkskrant.
Source: www.retaildetail.eu