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    Yandex Likely to Limit Operations or Leave Ukraine Market Due to Sanctions - COO

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    St. Petersburg International Economic Forum 2017 (183)
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    Russia-based Yandex tech company is likely to curtail operations or leave the Ukrainian market due to sanctions imposed on it, Chief Operating Officer Alexander Shulgin said Thursday.

    ST. PETERSBURG (Sputnik) — He spoke one the sidelines of the St. Petersburg International Economic Forum (SPIEF), where the Rossiya Segodnya International Information Agency is the official media partner.

    "The Ukrainian state has imposed a number of sanctions against a number of Russian IT companies, which make our activities in the country impossible," Shulgin told Russia's NTV broadcaster in an interview. "Most likely, our economic involvement in business in Ukraine will be reduced or zeroed out."

    Earlier, the SBU locked down and searched the offices of Yandex.Ukraine in Kiev and Odessa as part of the investigation of a case of treason against the state.

    On May 16, Poroshenko approved the decision of the National Security and Defense Council (NSDC) to expand the list of sanctioned Russian individuals and legal entities. In particular, Ukraine has imposed sanctions on a number of Russian media and popular social networks such as VKontakte and Odnoklassniki, as well as Yandex and Mail.Ru IT company.  

    St. Petersburg International Economic Forum 2017 (183)
    St. Petersburg International Economic Forum (SPIEF) 2017, Yandex, Ukraine
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