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☆ Foreign companies have lost over $100 billion in the process of leaving Russia since it started the war in Ukraine
▼ + stars: | 2024-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Foreign companies exiting Russia over its invasion of Ukraine have amassed losses of $107 billion. Despite thousands pledging to leave, only 372 companies have exited Russia since the war started. At that time, foreign companies leaving Russia had lost over $80 billion in the departure process. Thousands of foreign companies pledged to leave Russia after it started the war in Ukraine. Other than writedowns and lost revenue, departing foreign companies have also been paying huge fees to the Russian government.

Persons: —, Vladimir Putin's, Ian Massey Organizations: Service, Reuters, Washington, Moscow . Companies, Kyiv School of Economics, Companies, HSBC, Polymetal International, Kremlin, RBC Daily, Ikea Locations: Russia, Ukraine, writedowns, Moscow

☆ E.U. Removes Russian Tech Tycoon From Sanctions List
▼ + stars: | 2024-03-13 | by ( Anatoly Kurmanaev | ) www.nytimes.com time to read: +1 min

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

☆ Apple has paid a $13 million fine that will go directly into Russia's state budget as Putin ramps up war spending, report says
▼ + stars: | 2024-01-23 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Apple has paid a $13 million Russian fine over alleged illegal app store practices, per the FT. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementApple has reportedly paid a $13 million Russian fine as President Vladimir Putin escalates his crackdown on foreign tech firms. Like many other Western companies, Apple has largely abandoned Russia since Putin launched an invasion of Ukraine in February 2022, though it still operates its app store in the country. However, the war has left the Russian economy struggling with spiraling food prices and a shortage of workers .

Persons: —, Vladimir Putin, Putin, Russia's Organizations: Apple, Google, Service, FAS, Financial Times, Big Tech, Business Locations: Russia, Ukraine, Ukrainian, Russian

[1/5] Russian President Vladimir Putin delivers a speech during a plenary session of the Artificial Intelligence Journey 2023 international AI and machine learning conference in Moscow, Russia November 24, 2023. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS Acquire Licensing RightsSummaryCompanies Putin to approve new AI strategy soonChina and U.S. lead on AI currentlyRussian AI has been set back by Ukraine war, sanctionsPutin calls Russia to up its game on AIMOSCOW, Nov 24 (Reuters) - President Vladimir Putin on Friday warned that the West should not be allowed to develop a monopoly in the sphere of artificial intelligence (AI), and said that a much more ambitious Russian strategy for the development of AI would be approved shortly. "In all spheres of our life, humanity is beginning a new chapter of its existence," Putin said of AI, adding that Russia needed to up its game on AI both in ambitions and execution. Russia, he said, would have to change laws, boost international cooperation, and ensure much more investment for the development of AI. He told Putin in June that Sberbank was making around $3 billion annually from $1 billion in AI investments.

Persons: Vladimir Putin, Mikhail Klimentyev, Putin, Gref, Sberbank, Guy Faulconbridge, Gareth Jones, Mark Potter Organizations: Artificial, Sputnik, REUTERS Acquire, MOSCOW, Thomson Locations: Moscow, Russia, Kremlin, China, U.S, Russian, Ukraine, United States, India, Israel, South Korea, Japan

☆ Putin's war with Ukraine has basically killed off one of Russia's most successful tech companies
▼ + stars: | 2023-11-15 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

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

☆ Yandex takes step towards Russian approval for restructuring
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +2 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 photo Acquire Licensing RightsMOSCOW, Oct 27 (Reuters) - Nasdaq-listed Russian tech company Yandex (YNDX.O) said on Friday it had obtained one of the approvals needed from the Russian government for its planned restructuring, which it hopes to complete by the end of 2023. Yandex, while reporting a 33% drop in third-quarter adjusted net income, said its board remained committed to completing the restructuring and divesting all Russia-based businesses. It said class A shareholders had now given consent for the merger of certain intermediate Dutch holding companies into Yandex NV. Yandex said it planned to take a restructuring proposal to shareholders for approval by the end of 2023.

Persons: Evgenia, Yandex, Alexander Marrow, Jason Neely, Mark Potter Organizations: REUTERS, Rights, Nasdaq, Yandex, Moscow, Reuters, Yandex NV, Thomson Locations: Moscow, Russia, Ukraine, nationalising, Washington

☆ Ride-hailing app Yango to set up global office in Dubai
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

DUBAI, Oct 18 (Reuters) - Yango, the ride-hailing app owned by Russian tech group Yandex NV <YNDX.O), is establishing a global operational office in Dubai, the company said in a statement on Wednesday. Yango said the office will be open in the fourth quarter of this year and will be based in Dubai Internet City, part of Dubai business park operator TECOM Group. "The strategic move to establish Yango’s global operational office represents a significant milestone to oversee operations of its myriad services," the company said in a statement. These include Yango ride-hailing and last-mile delivery solution provider Yango Delivery, the company added. Reporting by Hadeel Al SayeghOur Standards: The Thomson Reuters Trust Principles.

Persons: Yango, Hadeel Al Organizations: Russian, TECOM, Thomson Locations: DUBAI, Dubai, City

☆ Yandex's Yango in talks with Dutch watchdog over data protection
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

REUTERS/John Sibley/File Photo Acquire Licensing RightsCompanies Yandex NV FollowAMSTERDAM, Oct 12 (Reuters) - Yango, the ride-hailing app owned by Russian tech group Yandex NV (YNDX.O), said on Thursday it is in talks with the Dutch Data Protection Agency to demonstrate that it adheres to European rules on data transfer and storage. The Dutch Data Protection Agency on Thursday confirmed it is also investigating Yango. Yango said the Finnish and Norwegian probes showed "Yango's personal data processing does not pose any imminent threat to the fundamental rights and freedoms" of European users. "As we have always stated, data of Yango users cannot be obtained from the service by Russian authorities outside of the established international procedures, for example, involving Interpol." Yandex is in the process of trying to separate its core Russian businesses from the international operations registered in the Netherlands.

Persons: John Sibley, Yango, Toby Sterling, Jane Merriman Organizations: REUTERS, Russian, Dutch Data Protection Agency, Nasdaq, Interpol, Thomson Locations: London, Britain, AMSTERDAM, Russia, Netherlands

☆ Finland lifts ban on transferring Yandex data to Russia
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 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 Photo Acquire Licensing RightsOSLO, Sept 26 (Reuters) - Finland's data protection regulator said on Tuesday it had lifted a temporary ban on Russian tech group Yandex (YNDX.O) and Dutch-based partner Ridetech from transferring to Russia the personal data of customers of Yandex's Yango ride-hailing app. The emergency ban was announced in August in response to Russian legislation which Finland at the time believed would give Russia's Federal Security Service the right to receive data from Finnish users processed in taxi operations. Yango has said it processes data in strict compliance with General Data Protection Regulation (GDPR) and EU legislation, and that Russia in any case had no jurisdiction over the company's international business. Norway had also planned a similar ban to the one issued by Finland but had not issued a formal order and will refrain from doing so, a spokesperson for the Norwegian Data Protection Agency said.

Persons: Evgenia, Ridetech, Yango, Terje Solsvik, Ros Russell Organizations: REUTERS, Rights, Federal Security Service, Yandex, General Data Protection, Norwegian Data Protection Agency, Thomson Locations: Moscow, Russia, Rights OSLO, Finland, Finnish, Norway

“We hit an obstacle with Google's contracts,'' Weinberg said in U.S. District Court in Washington. Google counters that it dominates the internet search market because its product is better than the competition. After a couple years, the company began positioning itself as a search engine that respects people’s privacy by promising not to track what users search for or where they have been. That's loose change for Google's parent company, Alphabet, which generated $283 billion in revenue last year. In court Thursday, Lehman said his best guess is that search engines will shift largely from relying on user data to relying on machine learning.

Persons: Gabriel Weinberg, Weinberg, DuckDuckGo, Edward Snowden, Eric Lehman, Department’s, Lehman, Baidu, Russia’s, Google’s, ’ ’, Judge Amit Mehta, Taylor Swift, Travis Kelce Organizations: WASHINGTON, Google, The U.S . Department of Justice, Apple, Verizon, MIT, Cambridge, Microsoft, NFL Locations: U.S, Washington, The, Pennsylvania

☆ Kremlin Calls Businessmen Who Criticise Russia to Get Sanctions Relief 'Traitors'
▼ + stars: | 2023-09-14 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

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

☆ 18 months after Putin invaded Ukraine, Russia's sanctioned oligarchs are still rich and even less likely to stand up to him
▼ + stars: | 2023-09-09 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +10 min

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

☆ I left Russia and moved to Florida. These were the 5 biggest culture shocks.
▼ + stars: | 2023-09-08 | by ( Anastasia Chernikova | ) www.businessinsider.com time to read: +10 min

Elena Brandt grew up in Moscow and moved to Florida in 2018 with her husband. AdvertisementAdvertisementOur relationship progressed quickly; in 2018, I got my visa and moved to Florida. In the five years since moving to Florida, I've started a business, had two children, and worked through grad school. Russia has a much better deal for working mothersRussia offers working mothers more support than in the U.S. When my third baby was born in 2021 in Florida, I was working part-time and teaching at a university.

Persons: Elena Brandt, Brandt, It's, I've, I'd, Nikita Khruschev, Khrushchev, They're, deprecation, Russia's Organizations: Florida State University, Service, Yandex, U.S . Locations: Moscow, Florida, Wall, Silicon, Russian, United States, U.S, America, scone, Soviet, Iowa, USSR, Russia, New York, Ukraine

☆ Ukraine war live updates: Russian investigators say genetic test proves Prigozhin death; Billionaire Yandex co-founder pleads for sanctions relief
▼ + stars: | 2023-08-28 | by ( Natasha Turak | ) www.cnbc.com time to read: 1 min

Two people were killed and five injured after a Russian missile strike on the Poltava region in central-eastern Ukraine, state authorities said. Russian officials reported that their air defense forces shot down a drone approaching Moscow, resulting in the halting of some flights in the Moscow region. Kyiv says it has liberated the southeastern village of Robotyne, claiming a victory in terms of territorial gains as it pushes on with its grinding counteroffensive into Russian-held land. Elsewhere, the Russian billionaire co-founder of tech giant Yandex is reportedly appealing EU sanctions against him after he vocally criticized Russia's war in Ukraine. The request to lift sanctions will be discussed by EU officials in September, the Financial Times reported.

Organizations: EU, Financial Times Locations: Russian, Poltava, Ukraine, Moscow, Kyiv, Robotyne

☆ Russian tech billionaire wants sanctions lifted after he criticized Ukraine invasion, report says
▼ + stars: | 2023-08-27 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

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

The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. Moscow already demands a 50% discount on all foreign deals after consultants selected by the Russian government have valued the business. But three people familiar with the exit process for foreign companies said that some deals are facing demands for additional discounts before the government gives a green light. Another person, who works on M&A transactions and with foreign companies, said deals exceeding $100 million were at particular risk of being denied. In its biannual financial stability review, the central bank said foreign companies under pressure to leave Russia were doing so on "unfavourable" terms.

Persons: Evgenia, Carlsberg's, Intesa, Vladimir Putin's, Suren Gortsunyan, Rybalkin, Gortsunyan, Alexey Kupriyanov, Elena Fabrichnaya, Alexander Marrow, Victor Goury, Josephine Mason, Jane Merriman Organizations: REUTERS, Reuters, Heineken, Arnest, Companies, Nasdaq, Russia, Dyakin, Partners, Aspring, Nato, Thomson Locations: Moscow, Russia, Ukraine, MOSCOW, Russian, London, Laffont, Gdansk

☆ Russian e-commerce firm Ozon loses latest appeal against Nasdaq delisting
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Ozon, one of Russia's top e-commerce companies, raised nearly $1 billion in an initial public offering (IPO) in late 2020, a debut that sparked a mini-IPO boom for Russian firms. Trading in Ozon's securities on Nasdaq was suspended soon after Russia despatched troops to Ukraine in February 2022, as were Russian company listings on the London Stock Exchange. "Our ADSs will not be delisted from Nasdaq until all available review and appeal procedures and periods available under the Nasdaq listing rules have expired," Ozon said in a statement. In late July, Ozon's ADSs began trading on Kazakhstan's Astana International Exchange (AIX), a move that it said could increase liquidity, especially for international investors to trade its securities. Russian recruiter Headhunter's securities have already been delisted from Nasdaq, but payments provider Qiwi (QIWI.O) and tech giant Yandex (YNDX.O) were thrown a lifeline to remain on Nasdaq, provided they divest entirely of their Russian assets.

Persons: Ozon, Ozon's ADSs, Olga Popova, Alexander Marrow, Mark Potter Organizations: Nasdaq, Trading, London Stock Exchange, Kazakhstan's Astana International Exchange, Thomson Locations: Russia, Ukraine MOSCOW, Ukraine, Moscow, London

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

☆ Arkady Volozh: Co-founder of Yandex, Russia's Google equivalent, slams 'barbaric' invasion of Ukraine
▼ + stars: | 2023-08-10 | by ( ) edition.cnn.com time to read: +2 min

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

☆ Russian tech billionaire breaks silence, says he's horrified by Putin's 'barbaric' war in Ukraine
▼ + stars: | 2023-08-10 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +2 min

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

July 31 (Reuters) - Economic sanctions have been the biggest headache for Russia's business elite since the start of the war in Ukraine, but a drone strike in the heart of Moscow's financial district is forcing companies to think about their employees' safety. Tech giant Yandex (YNDX.O), which has offices dotted around the Russian capital including in Moskva-Citi, asked staff to vacate offices at night, when strikes on the Russian capital have tended to occur. One financial services professional said he did not think the attack would deter people from going to Moskva-Citi. A Telegram channel run by the Russian online media group Mash broadcast photos of the damage done to the digital ministry's headquarters. For one employee at a large Russian company, the attack was a "really scary" warning.

Persons: Nobody, Yandex, Dmitry Peskov, Volodymyr Zelenskiy, Gareth Jones, Mark Potter Organizations: Sunday, Citi, Kremlin, Tech, Reuters, Telegram, Thomson Locations: Ukraine, Moskva, Ukrainian, Russia, Moscow, Kyiv, Russian

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