The franchiser that operates Domino's Pizza locations in Russia indicated Monday it is closing all of its outlets in the country, following other U.S.-based brands such as McDonald's and Starbucks.

DP Eurasia, the master franchiser for Domino's in Turkey, Russia, Azerbaijan and Georgia, said in a regulatory filing on the London Stock Exchange that its Russian subsidiary, known as DPRussia, intends to file for bankruptcy and discontinue operations in the country.

The company said the move "will bring about the termination of the attempted sale process of DPRussia as a going concern and, inevitably, the group's presence in Russia."

The franchiser says it operates 142 pizza delivery and takeaway/eat-in facilities in Russia, where the authorities have greatly tightened rules governing Western businesses as the United States, the European Union and NATO allies have imposed multiple rounds of sanctions on the Kremlin over its invasion of Ukraine.

The decision by the Domino's franchiser to pull out of Russia mirrors that of McDonald's, which sold its restaurant operations in Russia in May 2022, and Starbucks, which ended its franchising agreements there the same month.

Since the invasion of Ukraine began in February 2022, more than 1,000 companies have exited the Russian market, according to the Yale School of Management. However, Dominos' exit is the first by a U.S. fast-food chain in the 15 months since that initial wave.

The slowed pace could be attributable to Russian countermoves meant to stem the tide of fleeing companies.

The Kremlin has erected barriers meant to block Western companies from selling their assets in the country, including the enactment of a secret law under which the government has the right to buy any Western asset for sale at a "significant discount" so they can later be sold at a profit, The Financial Times reported in June.

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