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The European Union has lifted sanctions against a Russian technology tycoon, in a rare break from a policy of punishing the country’s elites for the invasion of Ukraine. Arkady Volozh, who co-founded Russia’s largest tech company, Yandex, was taken off the list of sanctioned individuals after condemning the invasion of Ukraine and taking public steps to sever ties to Russia. Mr. Volozh is one the most prominent Russian figures to be cleared of sanctions by a major Western power since the start of the war. “There’s finally some logic in the West’s actions,” Abbas Gallyamov, a former Kremlin speechwriter turned political consultant, wrote on the Telegram messaging app. “If you come out against” the war, he added, “then sanctions are lifted.”
Persons: Arkady Volozh, Volozh, “ There’s, ” Abbas Gallyamov, , Organizations: European, European Council, Kremlin Locations: Russian, Ukraine, Russia
FRANKFURT, Germany (AP) — The Dutch parent of pioneering Russian tech company Yandex is selling its operations in the country at a steeply discounted price of just over $5 billion to its Russia-based managers and oil company Lukoil, one of the biggest deals for Western-held companies to exit Russia since the invasion of Ukraine. He subsequently condemned Russia's invasion as “barbaric.” The Nasdaq exchange suspended trading in Yandex shares days after the invasion. After the sale, Yandex NV would be left with its international businesses — employing 1,300 people — including self-driving technology and generative artificial intelligence as well as a data center in Finland. Yandex NV Chairman John Boynton said the company had faced “exceptional challenges” since the start of the war. None of the purchasers have been sanctioned, Yandex NV said, and the cash part of the transaction would be conducted in Chinese yuan outside of Russia.
Persons: Vladimir Putin's, Arkady Volozh, Dmitry Peskov, , , Alexander Chachava, Pavel Prass, Alexander Ryazanov, John Boynton, Boynton, McDonald’s, France’s Renault, Baltika Organizations: Western, Nasdaq, Yandex, Google, Yahoo, European Union, Companies, Baltika Breweries, Danone Locations: FRANKFURT, Germany, Russian, Russia, Ukraine, Moscow, Netherlands, Israel, Finland, Avtovaz, Western
Putin's war in Ukraine may have killed off one of Russia's most promising tech companies. AdvertisementPutin's war in Ukraine has taken quite a toll on the country's most successful tech company. The Dutch-domiciled company owns Russia's most popular search engine, which is often referred to as "Russia's Google." AdvertisementIt was also one of the most promising Russian tech companies in terms of global expansion. The tech company has, however, come under increasing government scrutiny in recent years after Putin's invasion of Ukraine in February 2022.
Persons: , Arkady Volozh, Volozh, Yandex Organizations: Yandex, Service, Bloomberg, Google, Reuters, VK Locations: Ukraine, Russian, Israel, Russia
The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. Dutch holding company Yandex NV's planned restructuring is aimed at recouping some shareholder funds with the sale of its main revenue-generating Russian businesses, such as its search and ride-hailing operations. 'CONTROL FOR LESS'Yandex NV may sell 100% of a holding company set up in Russia's Kaliningrad region, said one of the people. A third source said this scenario would see Yandex NV make a clean break with Russia. Yandex NV shareholders could easily have been left with nothing, said one of the sources.
Persons: Evgenia, Yandex, Yandex's, Arkady Volozh, Russia's, nationalising Yandex, Darya Korsunskaya, Alexander Marrow, David Goodman, Bernadette Baum Organizations: REUTERS, Kremlin, VK, Reuters, Carlsberg, Danone, Yandex, Thomson Locations: Moscow, Russia, Ukraine, Yandex, Dubai, Russia's Kaliningrad, nationalising
MOSCOW (Reuters) - The Kremlin on Thursday said that Russian businessmen who voiced anti-Russian views in an effort to get personal Western sanctions on them lifted were traitors ready to sell out their country. The European Union has just removed three Russian business leaders from its sanctions list - which it introduced to punish Moscow for its war in Ukraine - the EU's Official Journal showed on Thursday. Personal sanctions for many others were extended however. Different Russian businessmen had adopted different methods when it came to trying to get themselves removed from the sanctions list, he said. "There are businessmen who slip into anti-Russian positions and who try get sanctions taken off for 12 pieces of silver - they are traitors," said Peskov.
Persons: Dmitry Peskov, Peskov, Vladimir Putin, Arkady Volozh, Volozh, Putin, Yandex, Alexander Marrow, Andrew Osborn Organizations: European Union, Yandex NV, Reuters Locations: MOSCOW, Moscow, Ukraine, Europe, Russia
Russia's oligarchs are even less likely to turn on Vladimir Putin 18 months after the invasion. In the 18 months since Russia invaded Ukraine, the lives of Russian oligarchs such as Melnichenko have changed immeasurably in the face of Western sanctions. Sanctions were unleashed on Russia's billionaires as part of a wider set of economic restrictions that some hoped would inspire a revolt within the country. Russia's oligarchs have Putin to thank for their ongoing success. Revolt is possible but unlikelyIt now appears Russia's oligarchs have adapted to a new status quo where they lack political influence but still have a reliable stream of cash.
Persons: Vladimir Putin, Andrey Melnichenko, Putin, Mikhail Svetlov, Melnichenko, Forbes, hasn't, Putin —, Roman Abramovich, Alisher, Alisher Usmanov, Alexei Druzhinin, Ivan Fomin, Fomin, That's, Peter Rutland, Vladimir Potanin, Potanin, Rosbank, they've, there'd, Rutland, they're, Abramovich, Michael Regan Abramovich, He's, We'll, Arkady Volozh, Yevgeny Prigozhin, Putin oligarch, Wagner Organizations: Putin, Service, Financial Times, United Arab, Russia's, Soviet Union, Union, Kremlin, Center for, Center for Strategic, International Studies, Forbes, Wesleyan University, Bloomberg, New York Times, London, Chelsea FC, Getty, Guardian, Street, EU Locations: Wall, Silicon, Dubai, United Arab Emirates, Russia, Ukraine, Soviet, EU, Russian, Rutland, France, Thailand, Turkey
One of Russia's richest men, Andrey Melnichenko, said the Ukraine war had made him a "pariah." Melnichenko now lives in the UAE, where his $300 million Motor Yacht A is moored. His $578 million Sailing Yacht A was seized by Italian authorities shortly after he was sanctioned. AdvertisementAdvertisementOne of Russia's richest individuals said he'd become a "pariah" in the United Arab Emirates where he fled after being sanctioned. Oleg Tinkov managed to get sanctions against him in the UK lifted after slamming Putin's invasion of Ukraine and getting the backing of British business tycoon Richard Branson.
Persons: Andrey Melnichenko, Melnichenko, he'd, Vladimir Putin, I'm, Roman Abramovich, Arkady Volozh, Oleg Tinkov, Richard Branson Organizations: United, United Arab Emirates, Financial Times, Forbes, Chelsea FC, Bloomberg, EU Locations: Ukraine, UAE, United Arab, Russia, Israel, Le
A Russian oligarch called on the EU to lift sanctions against him after condemning Putin's war. Arkady Volozh made the call days after calling the war "barbaric," the Financial Times reported. AdvertisementAdvertisementRussian oligarch Arkady Volozh will be the first to formally ask for sanctions to be lifted after condemning Vladimir Putin's invasion of Ukraine, a report says. It is regarded as the first test as to how the West will treat previously sanctioned oligarchs who have gone on to publicly denounce Putin's war. AdvertisementAdvertisementBillionaire industrialist Oleg Deripraska had his $1 billion Sochi complex seized after criticizing the invasion, the FT reported in December.
Persons: Arkady Volozh, Volozh's, Vladimir Putin's, Volozh, Putin's, Oleg Deripraska, Volozh didn't Organizations: EU, Financial Times, Union, BBC, Google, Kremlin Locations: EU, Ukraine, Russia, Europe, Amsterdam, Israel, Sochi
Arkady Volozh, Co-Founder and Chief Executive Officer of Yandex Group of Companies, attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 7, 2019. REUTERS/Maxim Shemetov/File PhotoAug 10 (Reuters) - The co-founder of Russian internet giant Yandex (YNDX.O), Arkady Volozh, on Thursday condemned what he described as Russia's "barbaric" invasion of Ukraine, days after criticism in Russia over his apparent efforts to distance himself from the country. "Russia's invasion of Ukraine is barbaric, and I am categorically against it," Volozh said in a statement. Volozh developed Yandex in Russia, creating the country's largest tech company and ultimately taking it public on the U.S. Nasdaq stock exchange in 2011. Since Russia invaded Ukraine in February 2022, Yandex has sought to balance domestic pressure on one side with its Western investors on the other.
Persons: Arkady Volozh, Maxim, Volozh, , Yandex, Alexander Marrow, Jason Neely Organizations: Yandex, of Companies, St ., Economic, REUTERS, U.S, Nasdaq, European Union, Thomson Locations: St, St . Petersburg, Russia, Ukraine, Kazakhstan, Ukraine –, Israel, Yandex
The co-founder of Russian internet giant Yandex, Arkady Volozh, on Thursday condemned what he described as Moscow’s “barbaric” invasion of Ukraine, days after criticism in Russia over his apparent efforts to distance himself from the country. He has also been criticized by those opposed to Russia’s actions for not speaking out more forcefully against the war. “Russia’s invasion of Ukraine is barbaric, and I am categorically against it,” Volozh said in a statement. Volozh developed Yandex (YNDX) in Russia, creating the country’s largest tech company and its leading search engine. Volozh called the EU’s decision “misguided.”Yandex is pursuing a corporate restructuring that should ultimately see its main revenue-generating businesses inside Russia spun off from its Dutch-registered parent company, Yandex NV.
Persons: Arkady Volozh, Volozh, , ” Volozh, , , Yandex Organizations: European Union, Yandex NV, Nasdaq Locations: Ukraine, Russia, Kazakhstan, Ukraine —, Israel, Moscow
A cofounder of Russian internet company Yandex has come out against his country's war in Ukraine. Arkady Volozh, a billionaire who now resides in Israel, had refrained from public criticism. Few Russians of such elite economic status have openly come out against the Ukraine War. In particular, the EU accused Volozh's company of promoting Russian state narratives in its search results, according to the BBC. In a statement on Thursday, Volozh said he is personally "horrified" by Russia's war in Ukraine and the plight of Ukrainians "whose houses are being bombed every day," the Financial Times reported.
Persons: Yandex, Arkady Volozh, Volozh's, Volozh, Vladimir Putin, Pavel Durov, Organizations: Russian, Service, European Union, BBC, Financial Times, Dubai — Locations: Ukraine, Israel, Wall, Silicon, Russian, EU, Dubai
[1/2] The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. Maksut Shadaev, the head of Russia's ministry of digital affairs, told parliament in December that around 100,000 IT specialists had left Russia in 2022. It is not yet clear whether Volozh's comments may have any bearing on how Russia decides to proceed with the company. One of the sources said "hawks" in state companies believed nothing at all should be paid to foreigners. Two sources said VTB had never been a serious option as a buyer, given sanctions on the state lender.
Persons: Yandex, Maksut Shadaev, Ramzan Kadyrov, Arkady Volozh, Andrei Kostin, VTB, Alexei Kudrin, Alexander Marrow, Polina Devitt, Mike Collett, White, Susan Fenton Organizations: REUTERS, nationalising Nasdaq, Reuters, Yandex NV, Yandex, U.S, Kremlin, Thomson Locations: Moscow, Russia, nationalising, Ukraine, Serbia, Yandex
Finland and Norway ban Yandex from transferring data to Russia
  + stars: | 2023-08-08 | by ( ) www.reuters.com   time to read: +3 min
The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. REUTERS/Evgenia Novozhenina/File PhotoHELSINKI, Aug 8 (Reuters) - Finnish and Norwegian regulators said on Tuesday they had banned Russian tech group Yandex (YNDX.O) and its Netherlands-based partner Ridetech International from transferring to Russia any personal data of customers of Yandex's Yango ride-hailing app. The Yango ride-hailing service, which operates in 14 countries including Finland and Norway, is one of many services offered by Yandex, often dubbed "Russia's Google". "There is an acute risk to privacy as Russian authorities could potentially monitor the movements of Norwegian citizens via Yango," the Norwegian Data Protection Authority said in a separate statement. It said it processes data in strict compliance with General Data Protection Regulation (GDPR) and EU legislation.
Persons: Evgenia, Yango, Arkadi Volozh, Anne Kauranen, Terje Solsvik, Alexander Marrow, Susan Fenton Organizations: REUTERS, Ridetech, Finnish DPA, Federal Security Service, Russian Federation, Yandex, Norwegian Data Protection Authority, General Data Protection, Nasdaq, EU General Data, Thomson Locations: Moscow, Russia, Russian, Netherlands, Finnish, Finland, Norway, Yango, Yandex's New York, Ukraine, Oslo, London
REUTERS/Maxim ShemetovMOSCOW, June 9 (Reuters) - Russian state-owned lender VTB (VTBR.MM) may pull out of the running to acquire a stake in internet giant Yandex (YNDX.O), the bank's CEO, Andrei Kostin, told Reuters, as discussions are now centered around higher prices than the bank's initial offer. Kostin said he was not sure VTB would continue with its bid. "I am not sure that we will go into Yandex," Kostin told Reuters when asked about plans. "It was announced at $7 billion recently, we submitted our application at a different price level, lower," Kostin said. VTB was hit hard with Western sanctions over Russia's actions in Ukraine, something that limits its ability to front a consortium bid, Kostin said.
Persons: Maxim Shemetov, Andrei Kostin, Kostin, , Arkady Volozh, VTB, Vladimir Potanin, Vagit Alekperov, Guy Faulconbridge, Elena Fabrichnaya, Alexander Marrow Organizations: Moscow International Business Center, REUTERS, VTB, Reuters, Kostin, Yandex NV, Thomson Locations: Moscow, City, Russia, Maxim Shemetov MOSCOW, Yandex, Ukraine, Yandex's
A house in Amsterdam owned by sanctioned Russian oligarch Arkady Volozh was occupied by activists. Despite the Yandex billionaire's best efforts, a judge ruled that the squatters can stay. Volozh is not the first sanctioned oligarch to have his European property overtaken. Squatters moved into the five-story luxury house belonging to billionaire Arkady Volozh on October 27, according to Dutch newspaper De Telegraaf. This is far from the first protest action in the properties of high-profile sanctioned Russian figures.
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