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Russia’s Rostec develops blockchain system as “real alternative” to SWIFT

June 21, 2022

Earlier this month Rostec, a state corporation that comprises more than 700 enterprises in the fields of defense and technology, announced they have developed a blockchain platform to provide a “real alternative to SWIFT in international settlements.” Russian banks were excluded from the SWIFT system last February as part of the sanctions imposed by Western countries in response …

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Russian court fines Google $260,000 for breaching data rules

June 20, 2022

A Moscow court on Thursday said it had fined Alphabet’s Google 15 million roubles ($260,000) for repeatedly failing to comply with a Russian law requiring technology companies to localise user data. Russia has issued multiple fines to foreign technology companies in recent years over a range of infringements, in what critics say is Moscow’s attempt …

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VK Company and Vladimir Potanin eye Avito as Naspers seeks to sell Russian digital assets

June 17, 2022

VK Company, a Kremlin-controlled Russian Internet giant, is seeking to acquire the leading local classifieds platform Avito, which is owned by Naspers affiliate Prosus.  Prosus could also sell its 25.7% stake in VK Company, reported the Russian media  citing Bloomberg. Russian oligarch Vladimir Potanin is also regarded as a potential acquirer of Avito, according to the …

VK Company and Vladimir Potanin eye Avito as Naspers seeks to sell Russian digital assets Read More

Russia is taking over the Internet in Ukraine’s occupied territories

June 23, 2022

Webpages in the city of Kherson in south Ukraine stopped loading on people’s devices at 2:43 pm on May 30. For the next 59 minutes, anyone connecting to the internet with KhersonTelecom, known locally as SkyNet, couldn’t call loved ones, find out the latest news, or upload images to Instagram. They were stuck in a …

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FT: Deutsche Bank moves hundreds of IT workers from Russia to Germany

June 7, 2022

Deutsche Bank has relocated hundreds of its Russia-based IT specialists to Germany following the Russian invasion of Ukraine, the Financial Times reported Tuesday.  The Frankfurt-headquartered bank has relocated approximately half of its 1,500 highly skilled software developers based in Moscow and St. Petersburg as well as their families in the past three months, citing difficulties brought about …

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Taiwan bans exports of all modern chips to Russia, Belarus

June 7, 2022

Last week Taiwan imposed a ban on the sale of modern chips to Russia and Belarus in response to the invasion of Ukraine. The Ministry of Economic Affairs (MOEA) published a list of strategic high-tech goods that are barred from export to Russia and Belarus, reported DigiTimes. The ministry stated exports of these high-tech commodities are …

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Yet another Yandex woe: company founder and CEO resigns after falling under EU sanctions

June 6, 2022

Arkady Volozh, the founder and CEO of Yandex, has resigned from his company after being included in the EU’s latest package of sanctions on June 3, in response to Moscow’s invasion of Ukraine.  The EU points out Yandex’s responsibility in “promoting state media and narratives in its search results, and deranking and removing content critical of the Kremlin, …

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While failing to redeem some bonds, Ozon plans to reach operational break-even in next 12 months

June 4, 2022

Russian e-commerce major Ozon plans to reach operational break-even in the next 12 months, the company’s finance chief Igor Gerasimov said on Tuesday. “We’ve started to improve the economy – you can see that in the first quarter of this year (…) In the next 12 months, we intend to reach operational break-even,” he said at the forum of entrepreneurs …

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Russian writer and neural network team up to compose 24 short stories

June 3, 2022

Russian writer and artist Pavel Pepperstein and generative neural network ruGPT-3 have co-authored a story book called Trying to Wake Up. The book has just been published in Moscow by independent publisher Individuum. Trying to Wake Up is touted as “the world’s first collection of short stories resulting from the collaboration of a writer and a neural …

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Targeted by western sanctions, Sber has to part with key digital assets

May 20, 2022

Just weeks after Yandex sold its news aggregation and online entertainment services, another key player of Russia’s online ecosystem, Sber, has deprived itself from important digital assets.  A company called Novye Vozmozhnosti (New Possibilities) is the new owner of the music service SberZvuk (previously Zvooq.ru, acquired by Sber in Aprill 2021); the video streaming service Okko (aquired …

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Russian IT major Lanit pours 3 billion rubles into B2B online store

May 19, 2022

Itogo.ru, an online B2B and B2C seller of electronic goods and home appliances — from smartphones to microwave ovens — has raised 3 billion rubles from Lanit Ventures. This fund, the historic investor of Itogo, is the venture arm of Lanit, a major Russian IT group. By Russian standards, this is a sizeable amount (around …

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How Ukrainian “Inglorious Basterds” are combating Russia on the cyber front

May 20, 2022

Since the beginning of the Russian invasion of Ukraine, many cybersecurity experts and activists have joined the Ukrainian cyber front. They carry out DDoS attacks on Russian resources, defacing Russian sites, taking their popular services offline, and even more drastic operations.  One of the coordinators of such IT armies is Kharkiv cybersecurity specialist Mykyta Knysh. Having worked …

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