Couche-Tard Suspending Operations in Russia

LAVAL, Quebec — Alimentation Couche-Tard Inc. has suspended its operations in Russia, effective immediately. The company also announced it is implementing plans to take care of its employees there in a safe and responsible manner.

"We condemn Russia's aggression against Ukraine and the huge human impact it is having for both Ukrainians and Russians," Couche-Tard President and CEO Brian Hannasch stated.  "As such, we have made the decision to suspend operations. Couche-Tard has had stores in Russia for nearly three decades, and we are proud of our Russian team members and their dedicated service to local customers and communities."

The company operates in Russia under its primary brand, Circle K, employing more than 320 people. It has 38 stores located in St. Petersburg, Murmansk and Pskov.

Couche-Tard has already donated more than $1.5 million to the Red Cross and launched a global campaign to raise further funds for the Ukrainian people.

Local Circle K teams in Poland, the Baltics and across the European network have been supporting refugees with free fuel, food and beverages; housing; and donations to children's charities since the crisis began, the retailer also noted.

Since Russia began its invasion of Ukraine in late February, the effects have been felt around the world. The global oil market has seen crude oil prices spike, while certain U.S. gas stations that operate under the banner of Moscow-based PJSC Lukoil Oil Co. have experienced boycotts or the suspension of their licenses.

Laval, Quebec-based Couche-Tard operates in 26 countries and territories, with close to 14,200 stores, of which approximately 10,800 offer road transportation fuel. Its banners include Couche-Tard and Circle K.