situation report

Jul 30, 2019 | 15:50 GMT

1 min read

Russia: Draft Law Could Increase State Control Over Yandex

What Happened: A draft law on restricting foreign participation in Russian internet resources could eventually force Yandex, the country's major online search engine, to come under increased state control, Forbes reported July 30.

Why It Matters: If approved, the bill would reshape the ownership of some of Russia's largest technology companies as it would limit the number of shares of Russian-registered firms that can be purchased by foreigners. The bill comes as Moscow is pushing for technological sovereignty and attempts to increase control over its internet infrastructure.

Background: Russia has been looking to insulate itself technologically and economically to limit the adverse effect of sanctions on its economy. Moscow has also increased its efforts to build up its own industrial and technological capabilities to decrease its dependence on global networks and supply chains.

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