In recent years, Russian search and technology giant Yandex has made efforts to keep up with its Western peers and has developed its own smart devices, self-driving cars, and its own food delivery and ride-sharing services, among other products. According to New York Times, but Western sanctions against his homeland after the invasion of Ukraine made it impossible to continue developing and improving his projects. That’s why Yandex’s parent company, which is registered in Amsterdam, is said to want to sell and cut ties with Russia.

Apparently, Yandex plans to sell the emerging technologies it is working on to markets outside the country, as they need Western technology and experts to develop their full potential. It is also looking to sell its established businesses, such as its internet browser, food delivery and travel apps. Yandex plans to continue offering these products under its Russian affiliate, which likely means it needs to find buyers in the country.

Whether Yandex can really break free from Russia is another matter entirely. the times’ sources said the company must first get the Kremlin’s approval before it can transfer Russian-registered technology outside the country. It also needs to involve its shareholders in its restructuring plan before it can proceed. That said, the company does have a powerful backer standing up for it: Alexei Kudrin, the country’s former finance minister, whom it used in an unofficial capacity to get Vladimir Putin’s blessing. A Financial Times the report says Kudrin is meeting with Putin this week to discuss Yandex’s plan. If the Russian president approves, Kudrin is expected to leave his post as chairman of Russia’s Audit Chamber to take a leadership role at the new Yandex.

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