Yandex, the Russian search and technology titan, has made an attempt to keep up with its Western competitors in recent years, developing its own smart gadgets, self-driving cars, as well as its own food delivery and ride-sharing services, among other items. However, according to The New York Times, the West’s sanctions against its own country during the invasion of Ukraine have made it hard to continue building and enhancing its initiatives. That is why Yandex’s parent company, based in Amsterdam, is apparently considering selling and cutting relations with Russia.
Yandex is reportedly seeking to sell the burgeoning technologies it is developing to markets outside the nation, as they require Western technology and specialists to fulfil their full potential. It is also exploring selling its existing companies, like its web browser, food delivery, and ride-hailing applications. Yandex intends to continue supplying such items through its Russian company, which means it will have to find consumers within the nation.
It remains to be seen if Yandex will be able to break away from Russia. According to the Times, the corporation must first obtain clearance from the Kremlin before transferring Russian-registered innovations outside the nation. It also has to get its shareholders on board with its reorganisation plan before it can move further. Nonetheless, the corporation has a formidable advocate on its side: Alexei Kudrin, the country’s former finance minister, whom it has enlisted in an informal role to get Vladimir Putin’s approval. According to the Financial Times, Kudrin will meet with Putin this week to discuss Yandex’s idea. If the Russian president allows, Kudrin will step down as chairman of Russia’s Audit Chamber to take on a management job with the new Yandex.
