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In the past ten years, Yandex has been catching up with Western technology in Russia, launching its own search engine, browser, smart devices, self-driving cars, food delivery services, and ride-sharing platforms. According to the news from the New York Times, the sanctions against Russia caused by the Russia-Ukraine war have caused Yandex to encounter difficulties in developing technology, and even caused the registered parent company in the Netherlands have the intention of selling and withdrawing capital. It is not surprising that this requires first Approved by the President of Russia Vladimir Putin.
Yandex will reportedly spin off all its foreign business and package and sell the local business in Russia to domestic companies. According to the Financial Times, former Russian Finance Minister Alexei Kudrin has accepted Putin’s in-principle agreement to resign from the leadership of Russia’s Audit Chamber, the government’s accountability agency, and to take over as management of Yandex Agreeing to work on the restructuring .
