The giant Yandex is preparing to sever ties with Russia, a maneuver that is not only technological but also political.
In recent years, the Russian search and technology giant Yandex has made a lot of efforts to keep up with its Western competitors. The company has developed its own smart devices, its own self-driving cars, its own food delivery service and driver services. However, according to The New York Times, the sanctions imposed on his country after the invasion of Ukraine prevent him from developing and improving his products. It is for this reason that Yandex’s Amsterdam-based parent company is reportedly looking to sell off and sever its ties to Russia.
Giant Yandex prepares to sever relations with Russia
Yandex appears to be preparing to sell the new technologies it is working on to foreign markets, as Western technology and experience are now required to unlock their full potential. Yandex will also look to market its already well-established products, such as its internet browser, food delivery and chauffeured transportation services. Yandex plans to continue offering these products through its Russian subsidiary, which likely means it must find domestic buyers.
Political and technological maneuver
Another question is that Yandex can thus effectively distance itself from Russia. Sources for The Times explain that the company must first get permission from the Kremlin before it can transfer Russian technology abroad. In addition, he must convince his shareholders of these restructuring plans before he can act. At the same time, a very influential supporter stands behind the company – Alexei Kudrin, the country’s former finance minister, who could easily curry favor with Vladimir Putin. The Financial Times report explains that Alexei Kudrin will meet with Vladimir Putin this week to discuss the Yandex project. If the President of Russia approves,