Fast-food giant McDonald’s will permanently exit Russia after more than 30 years of operations in the country and sell off its stores in the wake of Russia's invasion of Ukraine, the company announced Monday.

The group initially closed all its stores in the country in March.

Danish seafood giant Espersen, a sizeable supplier of whitefish to the fast-food giant -- a contract it has held for decades -- subsequently also temporarily stopped activities of its Russian subsidiary, including production in Novgorod, Russia.