DP Eurasia, which runs the Domino's Pizza brand in Turkey and Russia, said today it was considering options for its Russian operations, including a divestment.
It added the work on a potential transaction was ongoing and there could be no certainty as to the outcome.
"DP Eurasia is evaluating its presence in Russia, the impact of sanctions and its continuing ability to serve its customers in Russia," it said, responding to market speculation regarding an exit from its Russian operations.
"Consequently, the company is considering various options which may include a divestment of its Russian operations," it said.
While many Western companies exited Russia after Moscow's invasion of Ukraine began on February 24, DP Eurasia said in April it planned to stay, but would limit investment there.
The London-listed company said in October it would keep optimising its store count in Russia and that it had 171 stores in the country at the end of October, compared to 192 a year earlier.