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Not just that. Russia is going to confiscate all Western assets in Russia as a counter measure. Valued roughly at 200B USD, mainly owned by EU countries. Yande

Not just that. Russia is going to confiscate all Western assets in Russia as a counter measure. Valued roughly at 200B USD, mainly owned by EU countries. Yandex would lose their Russian business in any case.

throwaway_20357 3y ago
I think there is little hope of normalizing relations with Russia, so unfortunately these "Western assets" need to be written off anyway. A large part of them ($98bn) came from Cyprus which might just be round-tripping Russian money.
- roenxi 3y ago
  > I think there is little hope of normalizing relations with Russia After 9/11, the US maintained productive relations with the Saudis. They're actively supporting Israel through the Gaza business. They have a long history of propping up dictators and thrashing countries for hard-to-articulate reasons (I still don't get exactly what the point of Afghanistan or Iraq was, even accepting the blunt "oil" that is sometimes given out). I don't see why relations with Russia aren't normalised now. As can be seen in this very announcement (suddenly international deals are being handled in Yuan), the US appears hell-bent on taking Russia and China then welding them together. That seems wildly stupid to me and personally I think it is a serious foreign policy blunder. The US should have sought a quick peace in Ukraine and normalised relations immediately.
  - sorenjan 3y ago
    The US sought a quick peace in Ukraine, they even asked Russia to not invade even before Russia started their invasion. You can't get much quicker than before the events have taken place. It didn't work because Russia isn't interested in peace, but that's not the US' fault.
    - deleted 3y ago
      [deleted]
    - ecommerceguy 3y ago
      Is there a source to this statement?
      - twixfel 3y ago
        We were all there, the US and UK were warning about the invasion for a long time before it happened. The Russians and their useful idiots in the West laughed, of course they would never invade! Then the invasion actually did happen and now magically history has been rewritten and it was the US that somehow caused it in the first place. Only problem: I do have a memory and I can remember 2 years ago. So yes very clearly Russia started this war all by themselves despite the US trying to dissuade them from doing so.
        ecommerceguy 3y ago
        Are you saying Ukraine has not been lobbing bombs into Donbass for the better part of 10 years?
        pb7 3y ago
        Can you remind us what happened roughly 10 years ago?
        skotobaza 3y ago
        Maidan revolution
        twixfel 3y ago
        Are you saying that Russia didn't invade Ukraine?
        ecommerceguy 3y ago
  - HideousKojima 3y ago
    >(I still don't get exactly what the point of Afghanistan or Iraq was, even accepting the blunt "oil" that is sometimes given out). Are you serious? At least on the Afghanistan one? The war in Afghanistan began because the Taliban refused to extradite Osama Bin Laden (and several other terrorist, but Osama was the biggest one), it's pretty straightforward.
    - hobs 3y ago
      No, the taliban did not refuse to do that - Bush refused to take him * https://www.theguardian.com/world/2001/oct/14/afghanistan.terrorism5 https://www.theguardian.com/world/2001/oct/14/afghanistan.te... * https://abcnews.go.com/International/story?id=80482&page=1 https://abcnews.go.com/International/story?id=80482&page=1
      - macintux 3y ago
        That was a highly-conditional offer, that I suspect the U.S. administration felt was designed to give the Taliban and bin Laden breathing room to escape/hide/whatever their next move would have been.
        hobs 3y ago
        Well thankfully we put a stop to that and immediately brought an end to the conflict and captured Osama without billions of dollars and a potential war!
        twixfel 3y ago
        Yeah if only the Taliban had handed over Bin Laden to North Korea, then I'm sure justice would have been served.
      - lolinder 3y ago
        In those links, the Taliban wasn't offering to hand Bin Laden over to the US, they were offering to hand him over to a third country that would never hand him over to the US. We can argue about whether Bush should have agreed to that offer, but it's a far cry from "refusing to take him": > Afghanistan's deputy prime minister, Haji Abdul Kabir, told reporters that the Taliban would require evidence that Bin Laden was behind the September 11 terrorist attacks in the US. > "If the Taliban is given evidence that Osama bin Laden is involved" and the bombing campaign stopped, "we would be ready to hand him over to a third country", Mr Kabir added. > But it would have to be a state that would never "come under pressure from the United States", he said.
  - A4ET8a8uTh0 3y ago
    This is a genuinely interesting take despite me disagreeing with the analysis. << I don't see why relations with Russia aren't normalised now. At the end of the day, people like when the day follows is the same as the previous one. This allows people to plan ahead, live life and so on. It allows business to run uninterrupted. Russia was upending existing post-ww2 order. It was initially doing it slowly. Slowly enough that no one in the west cared to do anything. Obama famously sought a 'reset' with Russia at the time. Even in Ukraine, it was not until after Crimea that there was even an appetite and realization that it won't magically stop. << the US appears hell-bent on taking Russia and China then welding them together. This is probably one of the few spots where we are kinda close, but US already made BRICS a reality with current sanctions regime making it even more relevant. The decisions being made now are a big gamble and I would like to hope that those are made consciously with some forethought. That said, remembering 9/11 Afghanistan, it is merely a hope. << I think it is a serious foreign policy blunder. That, sadly, we won't know until it all plays out. Who knows what life will look life 50 years from now?
  - malfist 3y ago
    What exactly does seeking a "quick peace" solution look like in an aggressor without casus belli invading a sovereign nation?
    - The_Colonel 3y ago
      I'll answer for them - forcing Ukraine to capitulate.
    - seryoiupfurds 3y ago
      Giving in to all their demands, of course. And then giving in to all their new demands five to ten years later when they try it again, and again, and again. "Anti-war" people always seem to have a curious blind spot when it comes to the countries that actually start wars.
      - roenxi 3y ago
        > Giving in to all their demands, of course. That can't be my position, I don't know what all Russia's demands were. But offering to draw NATO's sphere of influence back out of Ukraine seems like an obvious carrot that should have been offered. Maybe some guarantees to reign in any US interference in Ukraine's politics. Not supplying endless arms and materiel. That would have dramatically reduced all killing and destruction we've seen since 2023. The comparisons I'm going to draw are Iraq and Afghanistan. Although Russia was probably going to be a lot more careful as occupiers given that this is happening on their border. Eg, not supporting the drug trade so much and hopefully being a bit more serious about rebuilding. > "Anti-war" people always seem to have a curious blind spot when it comes to the countries that actually start wars. Who are you talking about there? The US? UK? NATO? Iran? African Nations? That is a wide net.
  - nradov 3y ago
    We have nothing to gain by normalizing relations with Russia. They have nothing that we want and they can't be trusted to negotiate in good faith anyway. So it's back to containment: Cold War 2. As such we should take every opportunity short of direct conflict to disrupt, undermine, disrespect, and humiliate the Putin regime. In a few decades the Russian empire will undergo another internal collapse or civil war, and then more of their outer territories can be stripped away.
    - roenxi 3y ago
      > They have nothing that we want Sure they do - a big border with the US's main geopolitical rival, China. The US anti-China strategy relies on making it difficult for China to secure resources in the event of a war - blocking sea routes, destabilising western paths that could be used, southern countries being a bit leery of China's military. They're majorly screwing themselves over by encouraging cooperation through the northern border and giving Russia every incentive to establish what overland trade routes it can. The NATO response to Ukraine seems a bit panicked - they're acting like they suddenly realised they aren't as competitive and secure as they thought. Building up a Russia-China-Iran axis under those conditions is an unforced error that is not clever. If the US had been more reasonable about Ukraine, we could be talking about how China is hemmed in from all angles. Instead the north and west look like they might be opening up to them. Combine that with the US getting literally nothing out of the Ukraine war except an opportunity to blow up resources that they really needed at home (and reopening old wounds with people who didn't need to be enemies I suppose), and the situation is a bit of a baffler. I can explain it with corruption, I can explain it with stupidity, but I'm struggling to find a "here is how the US comes out ahead" perspective. I can only guess at what Iran and the Houthi are thinking, but it is interesting that after watching NATO's performance in Ukraine the Middle East immediately starts to flare up. Might be a coincidence but that isn't saying great things about NATO's reputation. I dunno, it might be fine. We'll see.
- khzw8yyy 3y ago
  All wars have something in common: they end. That thought in your head about lack of hope of normalizing relations is just the current propaganda working. Edit: it's amazing just how short-sighted people can be. Look, we still bring up the Nazis as an unassailable argument for how something is bad. And yet the war with Germany ended and they are now a US ally fighting Russia. I'm sure in the midst of WW2 the common folk also believed that there can be no peace with Germany, after all the man on the radio said so. Besides, during WW2 the situation was the opposite: Russia was an ally. And hey, if you study European history at all you'll note that it's a series of wars with shifting alliances.
  - kiba 3y ago
    War didn't technically "end" between North and South Korea, North Korea is still a pariah state even if we were to accept the Korean war ended many decades ago. Relationship between Russia and the west will probably be restored at some point but not without a lot of Russians and to a lesser extent Ukrainian getting killed, their economy and infrastructure gutted.
    - thriftwy 3y ago
      Well, at the current point of time Russia's economy and infrastructure are mostly intact. I'm not sure why is that for a dramatic change. If you look at Iran, it also has its infrastructure in quite OK conditions - perhaps in better shape than all of their neighbours, and now that may even include Turkey. Russia is larger and has not self-inflicted being a theocracy. As for the losses of both sides, I'd suggest leaving that to military experts.
      - nradov 3y ago
        As the war drags on we can expect to see escalation in Ukrainian strikes against Russian infrastructure targets such as refineries. Russia is already short of air defense systems and isn't able to provide much coverage for civilian targets. Whether this works will depend on the level of sustained foreign aid for Ukraine. https://www.forbes.com/sites/davidhambling/2024/01/25/ukrainian-drones-are-burning-down-russias-oil-and-gas-industry/ https://www.forbes.com/sites/davidhambling/2024/01/25/ukrain...
alephnerd 3y ago
Yandex is keeping their Russian business. This is Yandex's European arm divesting itself from the Search+Mail business they have in Russia. In the press release, this was even mentioned - that Yandex's Russian management (aka most of it's management) would be buying out their Russian operations.
- alephnerd 3y ago
  Slight edit to this. I didn't realize the core founding team was pushed out and largely committed Aliyah for Israel after the 2022 War began. Not surprised either, as the core team was fairly progressive and anti-war, as a lot of Russian techies are. Also, it was the core team that was working on forward facing bets - sort of like a more functional version of Larry Page and Sergey Brin - and they're keeping those forward facing bets. Middle management appears to still be operating in Russia though. Edit: To people commenting below, IT Professionals and most other white collar jobs are draft exempted in Russia [0] To make up for the unfairness, mobilized Russian soldiers are being paid Russian/Eastern European white collar level salaries ($2,500/mo) [1] [0] - https://www.reuters.com/world/europe/russia-excludes-some-it-professionals-bankers-state-journalists-mobilisation-2022-09-23/ https://www.reuters.com/world/europe/russia-excludes-some-it... [1] - https://www.nytimes.com/2023/03/31/opinion/russia-ukraine-war-soldiers.html https://www.nytimes.com/2023/03/31/opinion/russia-ukraine-wa...
  - krunck 3y ago
    By "anti-war" do you mean in general or in regard to a particular war?
    - alephnerd 3y ago
      The Ukraine War. Most of the founding leadership's net worth was tied to Yandex's NYSE stock (YNDX) which was delisted due to the sanctions regime. Back in the day, Russian companies (just like Chinese companies pre-COVID) would cross list stock in both the Russian Market and the NYSE for an IPO. Basically, this is them cashing out and concentrating on their European operations, but the actual stuff Yandex is known for (search, mail, AI/ML) is still based in Russia and operated by Russian managers.
cedws 3y ago
With that is goodbye to any chance of wider Europe investing in Russia for the next century. I hope India takes notice because so far they seemed to have cared little about the blood on their hands.
- alephnerd 3y ago
  > I hope India takes notice because so far they seemed to have cared little about the blood on their hands. If there's a buyer, there's a seller [0]. EU member states need oil, so they buy it via India. There's no alternative to Russian crude for the European market. Anyhow, the last time Indian listened to Western oil sanctions over Iran in the 2008-10 period [1], the Indian economy ground to a halt and had a lost decade [2] while China grew with double digits in the same period, powered by Iranian crude. Oh, and Iran still exists in 2024 and can project even more power than it ever could in 2014. Given this context, India ain't dropping this competitive advantage. [0] - https://www.reuters.com/business/energy/fuels-russian-oil-gets-backdoor-entry-into-europe-via-india-2023-04-05/ https://www.reuters.com/business/energy/fuels-russian-oil-ge... [1] - https://www.nytimes.com/2010/12/31/world/asia/31india.html https://www.nytimes.com/2010/12/31/world/asia/31india.html [2] - https://www.hks.harvard.edu/sites/default/files/centers/cid/files/publications/faculty-working-papers/2019-12-cid-wp-369-indian-growth-diagnosis-remedies-final.pdf https://www.hks.harvard.edu/sites/default/files/centers/cid/...
  - cedws 3y ago
    From Reuters article: >Europe typically imported an average of 154,000 barrels per day (bpd) of diesel and jet fuel from India before Russia's invasion of Ukraine. >That increased to 200,000 bpd after the European Union banned Russian oil products imports from Feb. 5, Kpler data showed. An increase of 50,000 bpd across the whole of Europe is nothing in the grand scheme of things. India imported on average 1.76m bpd last year[0]. >Anyhow, the last time Indian listened to Western oil sanctions over Iran in the 2008-10 period [1], the Indian economy ground to a halt and had a lost decade That sounds like a them problem? Maybe they should invest more in renewables? >Given this context, India ain't dropping this competitive advantage. The world will remember those who profiteer from war. [0]: https://www.reuters.com/world/india/russia-makes-up-40-indian-oil-imports-dents-opecs-share-2023-10-20/ https://www.reuters.com/world/india/russia-makes-up-40-india...
kornhole 3y ago
That is a threat if the West confiscates Russian assets that have been frozen, Russia will retaliate in kind. https://www.rt.com/russia/591905-russia-asset-seizure-warning/ https://www.rt.com/russia/591905-russia-asset-seizure-warnin...
- user3939382 3y ago
  Yeah GP comment is missing context for many readers that Western leaders are contemplating stealing hundreds of billions of dollars of Russia’s money.

throwaway_20357 3y ago

I think there is little hope of normalizing relations with Russia, so unfortunately these "Western assets" need to be written off anyway. A large part of them ($98bn) came from Cyprus which might just be round-tripping Russian money.

roenxi 3y ago
> I think there is little hope of normalizing relations with Russia After 9/11, the US maintained productive relations with the Saudis. They're actively supporting Israel through the Gaza business. They have a long history of propping up dictators and thrashing countries for hard-to-articulate reasons (I still don't get exactly what the point of Afghanistan or Iraq was, even accepting the blunt "oil" that is sometimes given out). I don't see why relations with Russia aren't normalised now. As can be seen in this very announcement (suddenly international deals are being handled in Yuan), the US appears hell-bent on taking Russia and China then welding them together. That seems wildly stupid to me and personally I think it is a serious foreign policy blunder. The US should have sought a quick peace in Ukraine and normalised relations immediately.
- sorenjan 3y ago
  The US sought a quick peace in Ukraine, they even asked Russia to not invade even before Russia started their invasion. You can't get much quicker than before the events have taken place. It didn't work because Russia isn't interested in peace, but that's not the US' fault.
  - deleted 3y ago
    [deleted]
  - ecommerceguy 3y ago
    Is there a source to this statement?
    - twixfel 3y ago
      We were all there, the US and UK were warning about the invasion for a long time before it happened. The Russians and their useful idiots in the West laughed, of course they would never invade! Then the invasion actually did happen and now magically history has been rewritten and it was the US that somehow caused it in the first place. Only problem: I do have a memory and I can remember 2 years ago. So yes very clearly Russia started this war all by themselves despite the US trying to dissuade them from doing so.
      - ecommerceguy 3y ago
        Are you saying Ukraine has not been lobbing bombs into Donbass for the better part of 10 years?
        pb7 3y ago
        Can you remind us what happened roughly 10 years ago?
        skotobaza 3y ago
        Maidan revolution
        twixfel 3y ago
        Are you saying that Russia didn't invade Ukraine?
        ecommerceguy 3y ago
- HideousKojima 3y ago
  >(I still don't get exactly what the point of Afghanistan or Iraq was, even accepting the blunt "oil" that is sometimes given out). Are you serious? At least on the Afghanistan one? The war in Afghanistan began because the Taliban refused to extradite Osama Bin Laden (and several other terrorist, but Osama was the biggest one), it's pretty straightforward.
  - hobs 3y ago
    No, the taliban did not refuse to do that - Bush refused to take him * https://www.theguardian.com/world/2001/oct/14/afghanistan.terrorism5 https://www.theguardian.com/world/2001/oct/14/afghanistan.te... * https://abcnews.go.com/International/story?id=80482&page=1 https://abcnews.go.com/International/story?id=80482&page=1
    - macintux 3y ago
      That was a highly-conditional offer, that I suspect the U.S. administration felt was designed to give the Taliban and bin Laden breathing room to escape/hide/whatever their next move would have been.
      - hobs 3y ago
        Well thankfully we put a stop to that and immediately brought an end to the conflict and captured Osama without billions of dollars and a potential war!
        twixfel 3y ago
        Yeah if only the Taliban had handed over Bin Laden to North Korea, then I'm sure justice would have been served.
    - lolinder 3y ago
      In those links, the Taliban wasn't offering to hand Bin Laden over to the US, they were offering to hand him over to a third country that would never hand him over to the US. We can argue about whether Bush should have agreed to that offer, but it's a far cry from "refusing to take him": > Afghanistan's deputy prime minister, Haji Abdul Kabir, told reporters that the Taliban would require evidence that Bin Laden was behind the September 11 terrorist attacks in the US. > "If the Taliban is given evidence that Osama bin Laden is involved" and the bombing campaign stopped, "we would be ready to hand him over to a third country", Mr Kabir added. > But it would have to be a state that would never "come under pressure from the United States", he said.
- A4ET8a8uTh0 3y ago
  This is a genuinely interesting take despite me disagreeing with the analysis. << I don't see why relations with Russia aren't normalised now. At the end of the day, people like when the day follows is the same as the previous one. This allows people to plan ahead, live life and so on. It allows business to run uninterrupted. Russia was upending existing post-ww2 order. It was initially doing it slowly. Slowly enough that no one in the west cared to do anything. Obama famously sought a 'reset' with Russia at the time. Even in Ukraine, it was not until after Crimea that there was even an appetite and realization that it won't magically stop. << the US appears hell-bent on taking Russia and China then welding them together. This is probably one of the few spots where we are kinda close, but US already made BRICS a reality with current sanctions regime making it even more relevant. The decisions being made now are a big gamble and I would like to hope that those are made consciously with some forethought. That said, remembering 9/11 Afghanistan, it is merely a hope. << I think it is a serious foreign policy blunder. That, sadly, we won't know until it all plays out. Who knows what life will look life 50 years from now?
- malfist 3y ago
  What exactly does seeking a "quick peace" solution look like in an aggressor without casus belli invading a sovereign nation?
  - The_Colonel 3y ago
    I'll answer for them - forcing Ukraine to capitulate.
  - seryoiupfurds 3y ago
    Giving in to all their demands, of course. And then giving in to all their new demands five to ten years later when they try it again, and again, and again. "Anti-war" people always seem to have a curious blind spot when it comes to the countries that actually start wars.
    - roenxi 3y ago
      > Giving in to all their demands, of course. That can't be my position, I don't know what all Russia's demands were. But offering to draw NATO's sphere of influence back out of Ukraine seems like an obvious carrot that should have been offered. Maybe some guarantees to reign in any US interference in Ukraine's politics. Not supplying endless arms and materiel. That would have dramatically reduced all killing and destruction we've seen since 2023. The comparisons I'm going to draw are Iraq and Afghanistan. Although Russia was probably going to be a lot more careful as occupiers given that this is happening on their border. Eg, not supporting the drug trade so much and hopefully being a bit more serious about rebuilding. > "Anti-war" people always seem to have a curious blind spot when it comes to the countries that actually start wars. Who are you talking about there? The US? UK? NATO? Iran? African Nations? That is a wide net.
- nradov 3y ago
  We have nothing to gain by normalizing relations with Russia. They have nothing that we want and they can't be trusted to negotiate in good faith anyway. So it's back to containment: Cold War 2. As such we should take every opportunity short of direct conflict to disrupt, undermine, disrespect, and humiliate the Putin regime. In a few decades the Russian empire will undergo another internal collapse or civil war, and then more of their outer territories can be stripped away.
  - roenxi 3y ago
    > They have nothing that we want Sure they do - a big border with the US's main geopolitical rival, China. The US anti-China strategy relies on making it difficult for China to secure resources in the event of a war - blocking sea routes, destabilising western paths that could be used, southern countries being a bit leery of China's military. They're majorly screwing themselves over by encouraging cooperation through the northern border and giving Russia every incentive to establish what overland trade routes it can. The NATO response to Ukraine seems a bit panicked - they're acting like they suddenly realised they aren't as competitive and secure as they thought. Building up a Russia-China-Iran axis under those conditions is an unforced error that is not clever. If the US had been more reasonable about Ukraine, we could be talking about how China is hemmed in from all angles. Instead the north and west look like they might be opening up to them. Combine that with the US getting literally nothing out of the Ukraine war except an opportunity to blow up resources that they really needed at home (and reopening old wounds with people who didn't need to be enemies I suppose), and the situation is a bit of a baffler. I can explain it with corruption, I can explain it with stupidity, but I'm struggling to find a "here is how the US comes out ahead" perspective. I can only guess at what Iran and the Houthi are thinking, but it is interesting that after watching NATO's performance in Ukraine the Middle East immediately starts to flare up. Might be a coincidence but that isn't saying great things about NATO's reputation. I dunno, it might be fine. We'll see.
khzw8yyy 3y ago
All wars have something in common: they end. That thought in your head about lack of hope of normalizing relations is just the current propaganda working. Edit: it's amazing just how short-sighted people can be. Look, we still bring up the Nazis as an unassailable argument for how something is bad. And yet the war with Germany ended and they are now a US ally fighting Russia. I'm sure in the midst of WW2 the common folk also believed that there can be no peace with Germany, after all the man on the radio said so. Besides, during WW2 the situation was the opposite: Russia was an ally. And hey, if you study European history at all you'll note that it's a series of wars with shifting alliances.
- kiba 3y ago
  War didn't technically "end" between North and South Korea, North Korea is still a pariah state even if we were to accept the Korean war ended many decades ago. Relationship between Russia and the west will probably be restored at some point but not without a lot of Russians and to a lesser extent Ukrainian getting killed, their economy and infrastructure gutted.
  - thriftwy 3y ago
    Well, at the current point of time Russia's economy and infrastructure are mostly intact. I'm not sure why is that for a dramatic change. If you look at Iran, it also has its infrastructure in quite OK conditions - perhaps in better shape than all of their neighbours, and now that may even include Turkey. Russia is larger and has not self-inflicted being a theocracy. As for the losses of both sides, I'd suggest leaving that to military experts.
    - nradov 3y ago
      As the war drags on we can expect to see escalation in Ukrainian strikes against Russian infrastructure targets such as refineries. Russia is already short of air defense systems and isn't able to provide much coverage for civilian targets. Whether this works will depend on the level of sustained foreign aid for Ukraine. https://www.forbes.com/sites/davidhambling/2024/01/25/ukrainian-drones-are-burning-down-russias-oil-and-gas-industry/ https://www.forbes.com/sites/davidhambling/2024/01/25/ukrain...

alephnerd 3y ago

Yandex is keeping their Russian business. This is Yandex's European arm divesting itself from the Search+Mail business they have in Russia. In the press release, this was even mentioned - that Yandex's Russian management (aka most of it's management) would be buying out their Russian operations.

alephnerd 3y ago
Slight edit to this. I didn't realize the core founding team was pushed out and largely committed Aliyah for Israel after the 2022 War began. Not surprised either, as the core team was fairly progressive and anti-war, as a lot of Russian techies are. Also, it was the core team that was working on forward facing bets - sort of like a more functional version of Larry Page and Sergey Brin - and they're keeping those forward facing bets. Middle management appears to still be operating in Russia though. Edit: To people commenting below, IT Professionals and most other white collar jobs are draft exempted in Russia [0] To make up for the unfairness, mobilized Russian soldiers are being paid Russian/Eastern European white collar level salaries ($2,500/mo) [1] [0] - https://www.reuters.com/world/europe/russia-excludes-some-it-professionals-bankers-state-journalists-mobilisation-2022-09-23/ https://www.reuters.com/world/europe/russia-excludes-some-it... [1] - https://www.nytimes.com/2023/03/31/opinion/russia-ukraine-war-soldiers.html https://www.nytimes.com/2023/03/31/opinion/russia-ukraine-wa...
- krunck 3y ago
  By "anti-war" do you mean in general or in regard to a particular war?
  - alephnerd 3y ago
    The Ukraine War. Most of the founding leadership's net worth was tied to Yandex's NYSE stock (YNDX) which was delisted due to the sanctions regime. Back in the day, Russian companies (just like Chinese companies pre-COVID) would cross list stock in both the Russian Market and the NYSE for an IPO. Basically, this is them cashing out and concentrating on their European operations, but the actual stuff Yandex is known for (search, mail, AI/ML) is still based in Russia and operated by Russian managers.

cedws 3y ago

With that is goodbye to any chance of wider Europe investing in Russia for the next century. I hope India takes notice because so far they seemed to have cared little about the blood on their hands.

alephnerd 3y ago
> I hope India takes notice because so far they seemed to have cared little about the blood on their hands. If there's a buyer, there's a seller [0]. EU member states need oil, so they buy it via India. There's no alternative to Russian crude for the European market. Anyhow, the last time Indian listened to Western oil sanctions over Iran in the 2008-10 period [1], the Indian economy ground to a halt and had a lost decade [2] while China grew with double digits in the same period, powered by Iranian crude. Oh, and Iran still exists in 2024 and can project even more power than it ever could in 2014. Given this context, India ain't dropping this competitive advantage. [0] - https://www.reuters.com/business/energy/fuels-russian-oil-gets-backdoor-entry-into-europe-via-india-2023-04-05/ https://www.reuters.com/business/energy/fuels-russian-oil-ge... [1] - https://www.nytimes.com/2010/12/31/world/asia/31india.html https://www.nytimes.com/2010/12/31/world/asia/31india.html [2] - https://www.hks.harvard.edu/sites/default/files/centers/cid/files/publications/faculty-working-papers/2019-12-cid-wp-369-indian-growth-diagnosis-remedies-final.pdf https://www.hks.harvard.edu/sites/default/files/centers/cid/...
- cedws 3y ago
  From Reuters article: >Europe typically imported an average of 154,000 barrels per day (bpd) of diesel and jet fuel from India before Russia's invasion of Ukraine. >That increased to 200,000 bpd after the European Union banned Russian oil products imports from Feb. 5, Kpler data showed. An increase of 50,000 bpd across the whole of Europe is nothing in the grand scheme of things. India imported on average 1.76m bpd last year[0]. >Anyhow, the last time Indian listened to Western oil sanctions over Iran in the 2008-10 period [1], the Indian economy ground to a halt and had a lost decade That sounds like a them problem? Maybe they should invest more in renewables? >Given this context, India ain't dropping this competitive advantage. The world will remember those who profiteer from war. [0]: https://www.reuters.com/world/india/russia-makes-up-40-indian-oil-imports-dents-opecs-share-2023-10-20/ https://www.reuters.com/world/india/russia-makes-up-40-india...

kornhole 3y ago

That is a threat if the West confiscates Russian assets that have been frozen, Russia will retaliate in kind. https://www.rt.com/russia/591905-russia-asset-seizure-warning/ https://www.rt.com/russia/591905-russia-asset-seizure-warnin...

user3939382 3y ago
Yeah GP comment is missing context for many readers that Western leaders are contemplating stealing hundreds of billions of dollars of Russia’s money.