EU keeps market guessing with designation of Arkady Volozh – Marketscreener.com

Alongside the long-awaited oil embargo and the decision to de-SWIFT Sberbank, the EU’s sixth package of sanctions also included some surprises, including the decision to sanction prominent tech entrepreneur Arkady Volozh.

The announcement left many in the business community in Russia and abroad perplexed. Until now, most of the individuals sanctioned have been people who the West view as “oligarchs”, Kremlin cronies or people who have in some way supported the Kremlin’s invasion of Ukraine – Volozh hardly matches any of these descriptions.

Before Russia invaded Ukraine, Yandex was the most valuable internet company from Russia. It started off as a search engine but has evolved into a tech giant with a range of verticals supported by artificial intelligence – from ride-hailing to delivery robots and self-driving cars.

Volozh, who has been based in Tel Aviv with his family since 2014, has now resigned from all his positions in Yandex and its board. His trust has a 45.3% voting…

Read Full Story: https://www.marketscreener.com/quote/stock/YANDEX-N-V-8037501/news/EU-keeps-market-guessing-with-designation-of-Arkady-Volozh-40753544/

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source: https://news.oneseocompany.com/2022/06/17/eu-keeps-market-guessing-with-designation-of-arkady-volozh-marketscreenercom_2022061721940.html

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