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I think the reporting is a bit confusing here. Yandex was a dutch publicly traded company. Yandex name and search engine has been sold to Russian investors and

I think the reporting is a bit confusing here. Yandex was a dutch publicly traded company. Yandex name and search engine has been sold to Russian investors and will move to Russia. The Dutch company will remain and will focus on AI instead and rename to Nebius group. So Yandex the (the search engine) enters the country. Not exits.

nikolay 2y ago
It's very important to twist the news like some terrible things are happening in Russia, when it's quite the opposite.
- EB-Barrington 2y ago
  [dead]
stubish 2y ago
Is this a modern day nationalization? Essentially forced to sell at a 50% discount. In many ways very similar to what is happening to TikTok with the US. Although, now I think of it, it is just assumed that TikTok will end up under American control? I wonder what would happen if some group like the Saudi Royal Family bought it and moved the global HQ to Dubai?
- protomolecule 2y ago
  "Is this a modern day nationalization? Essentially forced to sell at a 50% discount." This is "modern day nationalization": "In March 2022, following the Russian invasion of Ukraine, the G7 countries froze around €260 billion ($280 billion) of the Central Bank of Russia’s reserves held in Western currencies and securities, including €210 billion deposited in Europe, mostly with Belgium’s Euroclear (around €159 billion). The remaining funds are deposited in France, Switzerland, Luxembourg, the United Kingdom, Canada, Japan (although specific values have not been given), the US (around €4.5 billion) and other countries." [0] [0] https://www.osw.waw.pl/en/publikacje/analyses/2024-05-24/eus-decision-to-use-profits-generated-frozen-russian-assets https://www.osw.waw.pl/en/publikacje/analyses/2024-05-24/eus...
- ulfw 2y ago
  Why would Saudis want to support another country and not their own? Dubai is in the UAE
  - stubish 2y ago
    Because I learned geography on TikTok?

nikolay 2y ago

It's very important to twist the news like some terrible things are happening in Russia, when it's quite the opposite.

EB-Barrington 2y ago
[dead]

stubish 2y ago

Is this a modern day nationalization? Essentially forced to sell at a 50% discount. In many ways very similar to what is happening to TikTok with the US. Although, now I think of it, it is just assumed that TikTok will end up under American control? I wonder what would happen if some group like the Saudi Royal Family bought it and moved the global HQ to Dubai?

protomolecule 2y ago
"Is this a modern day nationalization? Essentially forced to sell at a 50% discount." This is "modern day nationalization": "In March 2022, following the Russian invasion of Ukraine, the G7 countries froze around €260 billion ($280 billion) of the Central Bank of Russia’s reserves held in Western currencies and securities, including €210 billion deposited in Europe, mostly with Belgium’s Euroclear (around €159 billion). The remaining funds are deposited in France, Switzerland, Luxembourg, the United Kingdom, Canada, Japan (although specific values have not been given), the US (around €4.5 billion) and other countries." [0] [0] https://www.osw.waw.pl/en/publikacje/analyses/2024-05-24/eus-decision-to-use-profits-generated-frozen-russian-assets https://www.osw.waw.pl/en/publikacje/analyses/2024-05-24/eus...
ulfw 2y ago
Why would Saudis want to support another country and not their own? Dubai is in the UAE
- stubish 2y ago
  Because I learned geography on TikTok?