Even if the rumors have been circulating for several months, last Friday’s announcement of the restructuring of Russian tech giant Yandex is an electric shock. Often referred to as the “Russian Google”, best known as a search engine and taxi company, the group founded by Arkady Volozh in 1997 had global ambitions.
The fallout from the war in Ukraine forced it to make a heart-wrenching review of severing ties with Russia to preserve its international development. A pragmatic shift, which also acquires a strong political significance, as it must take place under the leadership of one of the country’s strongest economic figures, the former Minister of Finance (2000-2011) Alexei Kudrin.
Inspection of the Kremlin
According to the options on the table, the Dutch-registered Yandex holding company should leave the Russian market by selling all its activities (search engine and advertising, mobility, e-commerce, delivery, entertainment)…
Source: Le Figaro
I am Ben Stock, a passionate and experienced digital journalist working in the news industry. At the Buna Times, I write articles covering technology developments and related topics. I strive to provide reliable information that my readers can trust. My research skills are top-notch, as well as my ability to craft engaging stories on timely topics with clarity and accuracy.