All Russian businesses have been affected by the fallout from the war and Western sanctions, but “perhaps the most dramatic events have unfolded at Yandex,” writes TheBell, a respected Russian online publication, in its English edition.
While founder Arkady Volozh and head Tigran Khudaverdyan were sanctioned by the European Union, “compromises with the authorities have led the country’s leading IT company into a trap.” Yandex is now divided internally, as “some top managers left the country and are trying to salvage what they can from abroad; while others remain in Moscow and are determined to save Yandex’s Russian business.”
Read further:
- TheBell: How the war divided Yandex’s management
- EWDN: How Arkady Volozh resigned after falling under EU sanctions
- Meduza: How Yandex became part of Russia’s censorship machine
- EWDN: Yandex sells news aggregation service to VK amid censorship law and media crackdown
- EWDN: Yandex scales back “many planned investments,” withdraws 2022 financial guidance
- EWDN: Yandex delivery and mobility activities stopped or threatened in US, UK, France, Latvia, Estonia
- The Moscow Times: Yandex head quits after surprise EU sanctions
- EWDN: After Nasdaq stock suspension, Yandex could default on $1.25 billion convertible notes
