8 ms·
Article is misleading. Yandex is not part of the sanctions yet. Electricity was cut simply because they failed to make a new contract. Finnish source: https://
by nicce 5y ago
Article is misleading.
Yandex is not part of the sanctions yet.
Electricity was cut simply because they failed to make a new contract.
Finnish source: https://www.hs.fi/kotimaa/art-2000008786328.html https://www.hs.fi/kotimaa/art-2000008786328.html
- ex3ndr 5y agoWonder why since it is completely controlled by pu
- Ndymium 5y agoYep, their electricity sales contract ~~expired~~ (EDIT: ended for unspecified reasons) and they don't have a new contract. Their electricity transfer contract is still valid because their Finnish company is not a part of sanctions. (Electricity sales and transfer is separate in Finland.) When they get a new electricity sales contract, then the transfer company will reconnect power. I think the only matter here related to the war could be that electricity sales companies might be reluctant to sell a contract to them, due to PR reasons. But I bet one of them will, and they will get their power back.
- Hamuko 5y agoAs far as I understood, their electricity contract did not expire, or at least that was not explicitly mentioned. The transfer company, which now cut them from the grid, was their electricity seller until the end of 2021, and from the beginning of 2022 they had another seller provide them electricity, but that has ended for reasons unknown. >"Hänen mukaansa aiemmin sähköä myi Yandexille Nivos Energia, mutta sopimus päättyi jo vuodenvaihteessa. Tilalle tuli uusi sähkönmyyjä, joka on nyt lopettanut sähkönmyynnin."
- Ndymium 5y agoYou're correct, though I wonder what the reason could be other than expiring. Thinking out loud, maybe they've had trouble paying due to money transfer issues between Finland and Russia. In any case it's not directly due to any sanctions as the company is not sanctioned.
- nicce 5y agoI guess the company was Ilmatar Energy, and they had signed a five-year contract, which started in January. Some contract violation is required to cancel that. https://www.saurenergy.com/solar-energy-news/russian-yandex-signs-5-year-wind-ppa-with-finnish-ilmatar-energy https://www.saurenergy.com/solar-energy-news/russian-yandex-... https://www.datacenterdynamics.com/en/news/yandex-signs-5-year-renewable-energy-deal-in-finland/ https://www.datacenterdynamics.com/en/news/yandex-signs-5-ye...
- b112 5y agoI wonder. Every contract I've ever signed, has clauses about "unless legally compelled". EG, if it is an NDA, it often talks about the NDA being void, if compelled to testify etc etc Most supply contracts should have the same concept. That is, "this contract isn't enforcable, if a party is legally compelled to do thing $x".
- Tuna-Fish 5y agoThis doesn't need to be written into the contract inside the EU. Law is stronger than contracts, legislators and courts can pre-empt contracts in part or in whole.
- nicce 5y agoI wonder how often these pre-empt cases can be handled privately. E.g. what is the likelihood that it has happened in this case without public knowledge.
- deleted 5y ago[deleted]
- Ekaros 5y agoThe new seller went bankrupt? The massive increased price in electricity and long term contracts with other parties could have made them unable to continue running. Specially if it is some rather small company.
- Cthulhu_ 5y agoI don't think a contract expiring would lead to power being cut off this suddenly; there will have been extensive negotiations beforehand and a grace period.
- dry_soup 5y agoThe grace period of 10 days ended recently.
- mike_d 5y agoIt is "sudden" when viewed with an external lens. The only example I can think of where companies make potentially negative contract negotiations public is when cable companies enter into pissing matches with content providers (i.e. call your local NBC station now and tell them you want to keep their channel on DirecTV!)
- aqme28 5y agoGrace periods tend to be shorter for companies with a high likelihood of defaulting due to say the threat of international sanctions.
- anonymfus 5y ago> I think the only matter here related to the war could be that electricity sales companies might be reluctant to sell a contract to them, due to PR reasons. But I bet one of them will, and they will get their power back Not necessary, as actual engineers and electricians working for such companies could also refuse to make that connection. Also it's likely that sanctions will be more severe soon as Russian troops will do more crimes.
- oneoff786 5y agoWhat crimes are going to move the needle further at this point
- pjc50 5y agoThey could shoot down a plane full of NATO nationals (again), or deploy chemical weapons of mass destruction in European cities (again)?
- swarnie 5y agoOh oh, want about more extra-judicial assassinations in NATO countries? 123m spire ect ect (be sad)
- RobertRoberts 5y ago
- MichaelMoser123 5y agoEnded for unspecified reasons? So is Yandex going to sue back? Is that an option?
- _1tan 5y agoLegally Yandex is well integrated into the EU. Their main co. is a dutch, public company. Not sure how sanctions should work in this case.
- MomoXenosaga 5y agoFor tax reasons only. We call them "brievenbus firma". They don't have any actual operations here.
- the-lazy-guy 5y agoYandex did have a Dutch datacenter when it planned the expansion in Turkey (and other countries later). That expansion didn't work out and that datacenter was closed. Taking that aside, I wouldn't say that Yandex is incorporated in Netherlands for tax reasons anyway. (It actually pays most of its tax in Russia anyway). It was created for legal reasons though. AFAIK its ownership structure (with 2 classes of shares, with different voting rights) was illegal in Russia at the time Yandex went public.
- vbezhenar 5y agoMany Russian companies used foreign registration to prevent raiding from corrupt higher-ups. It was kind of rule, at least in IT companies. For example FSB forced Durov to sell vkontakte. It wouldn't happen if vkontakte was registered outside of Russia. I don't know whether that reasoning was applied to Yandex case, but I wouldn't be surprised. Another former Russian company is Jetbrains which used to operate from Russia for a long time, but their company was registered in Prague. I wonder if Yandex eventually will be forced to completely move inside Russia. It seems that their Russian operations are main revenue source and they probably would not be able to leave Russia. And with current events unfolding, wall between Russia and Europe will probably only rise.
- orangepurple 5y agoJetbrains is hiring in Munich, Germany, Prague, Czech Republic, Remote, Amsterdam, Netherlands, Berlin, Germany, Cyprus, Serbia, and Armenia. I don't know when they were a fully Russian company as you claim they were at one point.
- teh_klev 5y agoThe article title is misleading, but it does mention in the body of the story that: "The reasons for the disconnection are not clear, as Yandex is not currently on sanctions lists, but its news and blogging services, as well as a senior executive, have been criticized for spreading Russian propaganda"
- nicce 5y agoThe first phrase in the article: > Yandex's data center in Finland has been cut off the electricity grid as a response to Russia's invasion of Ukraine. It is still kinda misleading.
- teh_klev 5y agoYeah I know, it's a bit of a mess.
- fijiaarone 5y ago
- Gravityloss 5y ago@dang could you fix the wrong headline?