It's the same thing as company being based on Cayman Islands, it's mostly on paper really. Most of their offices, and human force are located in russia, in 2009 they sold golden share for 1 eur to the russian goverment(which allows to temporarily suspend the head of Yandex among other "benefits"), yeah and CEO(was resigned in dec 2022) and several other people from the board members are sanctioned by the West.
> "As founder and CEO of Yandex, he is supporting, materially or financially, the Government of the Russian Federation and is responsible for supporting actions or policies which undermine or threaten the territorial integrity, sovereignty and independence of Ukraine," the EU's listing states.
> The document also accuses Yandex of "promoting State media and narratives in its search results, and deranking and removing content critical of the Kremlin, such as content related to Russia's war of aggression against Ukraine."
Yeah and they are going to change the formals too - Yandex NV(based in Netherlands) is considering turning the main part of the business into a separate Russian group https://newsunrolled.com/economy/132317.html
Not after the war. Yandex had it's parent company which was headquartered in the Netherlands removed from operations and instead a new company headed by Aleksei Kudrin, a longtime confidant of President Vladimir Putin was put in charge.
> "As founder and CEO of Yandex, he is supporting, materially or financially, the Government of the Russian Federation and is responsible for supporting actions or policies which undermine or threaten the territorial integrity, sovereignty and independence of Ukraine," the EU's listing states.
> The document also accuses Yandex of "promoting State media and narratives in its search results, and deranking and removing content critical of the Kremlin, such as content related to Russia's war of aggression against Ukraine."
from: https://www.theregister.com/2022/06/06/yandex_ceo_arkady_vol...
Yeah and they are going to change the formals too - Yandex NV(based in Netherlands) is considering turning the main part of the business into a separate Russian group https://newsunrolled.com/economy/132317.html