Yandex faces investigation for manipulating searches

RUSSIA / FSU POLITICS - In Brief 14 Apr 2021 by Alex Teddy
On April 14 the Russian competition authority is investigating the nation's main tech company on suspicion that it is exploiting its market dominance. Yandex is accused of unfairly favoring its own services.The Federal Anti Monopoly Service said Yandex has not heeded an earlier warning. Shares in the company on the Nasdaq dropped 5% when the investigation was announced.Yandex disputes the allegations. It says that it uses enriched search responses and these are acceptable. Yandex makes up the majority of Russia's online searches. Yandex has a taxi service, movie streaming, food delivery, GPS, maps, e-commerce, email, cloud and other services.Yandex could be fined a maximum of 2% of its total revenue: that would be a fine of USD 60 million. It is thought the case will take months to resolve. The government is increasingly interested in regulating the area. Yandex's oversight board is cooperative to the Kremlin. The board can block sales of over 10% of the company. The board can regulate data, IP and partnerships with foreign states. Digital rights activists complained that Yandex is overly pliant to state requests for data to be provided to state security. In return the state has obligated all smartphones to have Yandex apps pre-installed.

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