How Putin takes control of Yandex
Russia’s technological giant Yandex said that he will reorganize his operations and Russia is preparing to sever ties with
Russia’s technological giant Yandex said that he will reorganize his operations and Russia is preparing to sever ties with
Yandex The company’s announcement was preceded by instability at the agency, with senior executives leaving, the sale of two of the company’s popular services, and its stock price plummeting to record lows.
Chairman of the company John Boynton (John Boynton) stated on November 25 that the company is currently experiencing “extremely difficult times”.
The Bell website reported that Yandex, headquartered in the Netherlands, will lose ownership and control of all businesses belonging to the Yandex group.
To the Company’s entities in Russia and their operations the president A trusted ally of Vladimir Putin Alexey Kudrinwill be led by news given.
The Bell news reports that Kudrin met with Putin on November 25, and based on the agreement, he will have a 5 percent stake in the reorganized company.
The report says that the Russian billionaire oligarch in the company Vladimir Potaninmetal giant Norilsk Nickel will also have a stake.
The name will be changed
Yandex’s main office in the Netherlands said that the name of the organization will be changed in the near future and will retain the exclusive rights to the Yandex brand.
On the basis of reorganization in the company Arkady Volozh It should retain the right to license to companies outside of Russia.
After leaving Russia, Volozh now lives in Israel.
Often “Russia’s Google-u” shares of Yandex on the stock exchanges USAwas managed by mutual funds and investment companies.
However, since 2019, Moscow’s pressure on the company has increased. At that time, Moscow demanded that the company give Sberbank the right of veto in making decisions. The right to veto a subsequent vote Russia was transferred to one of the funds.
“Geopolitical Decision”
However, experts say that the main problems of the Yandex company were caused by Russia’s unwarranted and unjustified intervention in Ukraine.
Yandex, which controls a wide range of areas from media organizations to service delivery, has faced operational difficulties due to the heavy restrictions placed on media since the start of the intervention.
That is why Yandex linked its latest decision with “geopolitical changes”.
In addition to media news, Yandex also provided internet search services. But with the start of the war in Ukraine by Russia, the pressure on Yandex to change the algorithms of the search engine and direct the searches to the state media increased.
Experts assessed this as a de facto censorship of the search service.
State TASS of Russia news agency called what happened as the departure of Yandex from Russia.