Starbucks: We Don't Fund Israel

Starbucks: We Don't Fund Israel

It may be the one market Starbucks isn't trying to saturate.

(CNNMoney) -- It may be the one market Starbucks isn't trying to saturate.

The coffee chain has issued a statement announcing that neither Starbucks nor CEO Howard Schultz "provides financial support to Israel," or to its army, in the wake of what Starbucks (SBUX) called "false rumors."

The company, which is known for flooding markets with its stores, also pointed out that it closed all of its stores in Israel in 2003 because of "operational challenges."

Spokesman Jim Olson wouldn't specify what challenges the company faced in Israel, but did say the decision to leave "was not related to political issues."

The company has publicly refuted claims about its support for Israel before, but reiterated its position because it saw an "uptick in false rumors out there about Starbucks and the Middle East," according to Olson.

Olson did not say where the rumors had come from, but a fast-growing campaign on the app Buycott, which is a platform where anyone can start and publicize a boycott, has targeted Starbucks for what it says is the company's support for "the occupation of Palestine."

Read more at CNNMoney.

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