Yandex's $5.2 Billion Exit: Tech Pioneer Leaves Russia

Yandex, known as "Russia's Google", has been sold by its Dutch-based parent company to a consortium of investors in Russia for $5.2bn, much lower than its estimated market value, making it a fully Russian-owned entity. The move comes amid accusations of hiding information about the war in Ukraine and pressure from the Russian government. Yandex's co-founder, Arkady Volozh, has publicly spoken out against Russia's invasion of Ukraine and has been hit with sanctions by the EU. The sale reflects the trend of foreign-owned businesses exiting Russia, and Yandex has faced criticism for allegedly promoting Russian state media and narratives in its search results.