Apple has filed a lawsuit against Russia’s Federal Antimonopoly Service (FAS), challenging a $12 million fine. The Moscow Arbitration Court has accepted the claim and scheduled a preliminary hearing for June 21. On April 27, the FAS fined Apple 906 million rubles (around $12 million) for abusing its dominant position in the apps market. According to a previous …
Apple challenges $12 million fine in Russian court Read More
Russia’s competition watchdog has launched a formal probe into Yandex, alleging the country’s largest technology company could be abusing its dominant position in the search market to promote its own services at the expense of competitors. The Federal Anti-Monopoly Service (FAS) said Tuesday that Yandex has failed to comply with a previous warning that it must stop favoring …
Anti-monopoly authority open case against Yandex for abusing search dominance Read More
A Moscow court has fined TikTok 2.6 million rubles (some $34,000 at the current exchange rate) for refusing to delete information encouraging teenagers to join an unauthorized street protest in Moscow on January 24, TASS reported. At that time, Russian social network aficionados, including millions of teenagers, had transformed TikTok into a digital rebellion hotspot. “Navalny stay alive,” “Putin’s …
TikTok fined $34,000 for not removing posts on unauthorized street protests in Moscow Read More
Russia will fine seven social media companies for not removing pro-Navalny videos ahead of last Saturday’s nationwide protests, the country’s communications regulator said Wednesday. “Facebook, Instagram, Twitter, TikTok, VKontakte, Odnoklassniki and YouTube will be fined for non-compliance with requirements to prevent the dissemination of calls to minors to participate in unauthorized rallies,” Roskomnadzor said in …
Russia to fine social media giants for keeping up pro-Navalny videos Read More
A Russian hacker was sentenced to 12 years in a US prison Thursday for consumer data theft worth $19 million from 100 million customers of over a dozen financial service companies, the Justice Department said. Andrei Tyurin, 37, pleaded guilty in 2019 after his extradition from the country of Georgia the previous year, admitting to computer intrusion, wire fraud, …
Facebook has paid a 4 million ruble ($53,000) fine, which was levied in February, for violating Russia’s personal data storage law. Proceedings against the company have been dropped, Russian state-run news agencies reported — without specifying whether or not Facebook now complies with the law. Over the past years the regulator Roskomnadzor requested Facebook and Twitter several …
Facebook pays $53,000 fine for breaching Russian personal data storage law Read More
American investor Michael Calvey and six other defendants in the Baring Vostok case have been released from house arrest, Russia’s Supreme Court ruled Thursday. This is the latest breakthrough in one of the most high-profile cases in the Putin era involving foreign businessmen. Their private equity fund, Baring Vostok, has been an investor in some of Russia’s …
Michael Calvey freed from house arrest weeks after settlement of civil claims Read More
An investor consortium led by Russian private equity firms Elbrus Capital and Winter Capital (the latter has Russian billionaire Vladimir Potanin among its limited partners) has acquired 60% of Banki.ru, a leading bank and insurance marketplace. The investors are buying all the shares of company founders Philipp and Kirill Ilyin-Adaev and Elena Ishcheeva for an undisclosed amount. Russia Partners, an …
Banki.ru founders sell their stake to settle conflict with US investor Read More
US businessman Michael Calvey and his fund Baring Vostok have reached a deal with former Russian partners in a corporate dispute over their joint investment Vostochny Bank. “The shareholders of Vostochny Bank have settled their corporate dispute” and “signed an agreement to the benefit of the Bank, its clients, depositors and creditors,” the two sides said in …
Russia’s Internet and telecom regulator Roskomnadzor has added Binance, the world’s largest crypto exchange, to the list of blacklisted websites in the country. The exchange was blacklisted on June 2, 2020, but Binance became aware of this only on September 24th, after receiving communication from Roskomnadzor. Binance said on its Russian Telegram channel it was …
One of the main figures in the collapse of German payment firm Wirecard, chief operating officer Jan Marsalek, is reportedly hiding somewhere near Moscow. Russian online publication The Bell looked at Wirecard’s connections with Russia, and why Marsalek visited the country over 60 times in a decade. The reason for Marsalek’s trips was a search for banks …
In what could put an end to a long saga, the US Securities and Exchange Commission announced today that it “obtained court approval of settlements with Telegram and its subsidiary TON Issuer Inc.” “Without admitting or denying the allegations in the SEC’s complaint, the defendants consented to entry of a final judgment enjoining them from …
