Tag Archives: EastWest

Russian tech giant Yandex said Tuesday it has reached a “binding” deal to sell its news platform and homepage to rival VK as war-related sanctions fuel uncertainty over the Russian tech industry’s future. VK said it exited its joint venture with top lender Sberbank to pave the way for the deal with Yandex, once considered the jewel of Russia’s rising IT scene. Yandex said it is pursuing a “strategic exit from its media businesses” with the sale of Yandex.News, Yandex.ru and… Source link

The former head of Russia’s top tech firm Yandex Tigran Khudaverdyan has challenged sanctions against him over the Ukraine war in a European Union court. Khudaverdyan filed a lawsuit on June 7 demanding the European Council lift its “discriminatory and disproportionate” sanctions against him. The lawsuit was first reported by TV channel RTVI on Monday evening.  Khudaverdyan quit as Yandex executive director and deputy CEO in March after being hit with an EU asset freeze and… Source link

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… Source link