MOSCOW (Sputnik) — Russia's technology giant Yandex said Tuesday that the sanctions, imposed on it by Ukraine, in overall will not have a substantial negative impact on the company's business.
"While Ukraine is a small part of our business and the sanctions will not have a material negative impact on our consolidated results, we regret that this new legislation affects our 11 million Ukrainian users who rely on our services every month, and the thousands of Ukrainian organizations that use our technologies and services to grow and develop their businesses," the company said in a press release.
Russia’s relations with Ukraine and the West deteriorated sharply after Crimea rejoined Russia in 2014 and the West accused Moscow of meddling in the conflict in eastern Ukraine, imposing several rounds of sanctions on Russia.
