Yandex is preparing to cut ties with Russia
Yandex, often dubbed “Russian Goolge”, would like to cut its ties with Russia to protect its new business from the fallout from the war in Ukraine, affirms the New York Times who cites two sources familiar with the matter. The company is officially registered in the Netherlands and has European, British and American subsidiaries, but the bulk of its activities are in Russia and Russian-speaking countries. The technology group would thus plan to transfer “its most promising new technologies to markets outside Russia and would sell its activities established in the country”, which include in particular its popular search engine – leader in the Russian-speaking space – and its applications. vehicle with driver and meal delivery, details the American daily. The development of new technologies, such as self-driving cars, artificial intelligence and cloud services, which require access to markets, will fail if they remain associated with Russia, said one of these people.
If Yandex were to carry it out, this restructuring plan would be a setback for Vladimir Putin, whose ambition is to replace Western technological products and services, “suffocated by sanctions”, with national substitutes, the newspaper further notes. However, such a change remains very uncertain, because the company must obtain the approval of the Kremlin to transfer certain technologies outside Russia. It must also find buyers for its Russian activities, which should continue to exist.