Numerous Western companies have exited the Russian market following its invasion of Ukraine.
The last few months have seen numerous Western companies exit Russia after it invaded Ukraine.
However, some companies still operating in the country are facing certain difficulties. The Russian subsidiary of Alphabet’s Google has submitted a declaration of bankruptcy.
This is according to a report by Interfax, citing court filings. The subsidiary revealed that it has been facing difficulties in operating over the past few months due to the sanctions imposed by the Russian authorities.
The company announced its plans to file for bankruptcy last month after authorities froze its bank account, making it impossible to pay its staff and vendors. At the time, the company’s spokesperson said;
“The Russian authorities’ seizure of Google Russia’s bank account has made it untenable for our Russia office to function … Therefore, Google Russia has filed for bankruptcy. People in Russia rely on our services… and we’ll continue to keep free services such as Search, YouTube, Gmail, Maps, Android, and Play available.”
The Russian government has banned access to Twitter and Meta Platforms Inc’s flagship social networks, Facebook and Instagram.
However, the government hasn’t imposed such sanctions on Google. Google and its YouTube video streaming platform are under pressure in Russia but continue to operate.
Moscow has made it known that it is unhappy with YouTube’s treatment of Russian media after blocking it.
Anton Gorelkin, deputy head of the State Duma Committee on information policy, revealed that Google and its YouTube platform are not currently at risk of being blocked by the Russian authorities.
Russia invaded Ukraine a few months ago, and this has led to an exodus of companies from the country.
Several companies in various sectors, including oil and gas, finance, fast food and more, have exited the Russian market as they protest the country’s invasion of neighbouring Ukraine.
