Russian search giant Yandex settles antitrust lawsuit

Russian search giant Yandex reached a settlement with Russia’s Antimonopoly Service and some IT companies on monopoly lawsuits. In February last year, Russia’s anti-monopoly service accused Yandex of building an unfair advantage in the search market and favoring its own products.

join us on telegram

The anti-monopoly service asked Yandex to correct its mistakes. At the time Yandex said it was ready to stand firm. Listed on Nasdaq, Yandex claims it has met the requirements of the warning, and the case is closed without fines; Yandex will undertake pro-competitive obligations, such as sharing information with the antitrust bureau.

Not only that, but Yandex will also set up a cooperative program for Russian tech companies to promote their products and services, and the company has donated $19.6 million to the Russian Fund for the Development of Information Technologies. Last year, when the Russian Antimonopoly Service accused Yandex, 20 Russian Internet companies stood up to support it, and then the Antimonopoly Service formally sued Yandex.

Leave a Comment