Russian tech giant suffering

RUSSIA / FSU POLITICS - In Brief 24 Apr 2022 by Alex Teddy
Yandex is the Russian tech giant. It was supposed to be able to solve all sorts of problems. Yandex has had to use its media aggregator to censor the media on behalf of the government. The public is only allowed information on the Ukraine conflict from official Russian sources. Therefore, almost all media outlets are saying the same thing.Some Yandex staff are unhappy with acting as censors. Yandex was seen as Russia's Google. It is no longer a cutting edge company. Yandex is listed in New York. It has had to remove independent media from its search results. Yandex News brings users content from Russian state media outlets. Yandex has taken down BBC podcasts from its streaming service.The CEO of Yandex's Dutch holding company is Tigran Khudaverdyan. He is a Russian-Armenian. He was sanctioned by the EU and stood down in March 2022. The CEO of Yandex also resigned. On April 23 Yandex said it is reducing investments and is no longer making financial forecasts for 2023. Its shares on the New York Stock Exchange have been frozen. Major bondholders want repayments on the USD 1.25 billion bond guarantee. Yandex says it does not have the money to pay them back and is negotiating a restructuring of the debt. The company is depending on how sanctions go and the outcome of court cases. Esther Dyson was a major American Yandex stockholder and board member who resigned in March 2022. She said she did not think she will get any returns from Yandex. Alexey Navalny said Yandex is Russia's main propagandist.Yandex is trying to sell Yandex News.Yandex has a mostly young, urban and liberal workforce that is unhappy with being suborned by the Kremlin. Since 2019 Yandex had to give 2 boar...

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