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Kremlin believes Yandex continuing its activities in Russia is important

Dmitry Peskov stressed that commercial transactions, such as the division of Yandex assets, are not subject to approval by the head of state's administration

MOSCOW, February 5. /TASS/. The Kremlin appreciates the Yandex deal and believes that the company's continued presence in Russia is crucial, Russian presidential spokesman Dmitry Peskov said at a briefing.

"Yandex is a national champion in its national economy, as well as one of the largest companies in the high technology sector. Of course, it is crucial for us to maintain the company's activities in our country," he stated.

"It is important for us that the company continues its work. In this regard, we can welcome the agreement that the shareholders reached on the sale," he added.

Peskov noted that commercial transactions, such as the division of Yandex assets, are not subject to approval by the head of state's administration. "There is no requirement to approve such transactions with the presidential administration. This is entirely a matter of business agreements," he said.

It was reported earlier on Monday that Yandex N.V. announced the sale of its Yandex business to a consortium of private investors for 475 bln rubles ($5.22 bln). IJSC Yandex, registered at the end of 2023 in Kaliningrad, is set to become the new parent company of Yandex. According to the decision, Yandex N.V. will cease to be the parent company of the group and will change its name and stop using Yandex brands by July 31, 2024.

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