Tech

Google’s Russian unit to file for bankruptcy after seizure of bank account

Google’s Russian subsidiary plans to file for bankruptcy after the country’s authorities seized its bank account following a series of clashes between Moscow and the US tech giant.

“[The seizure] has made it untenable for our Russian office to function, including employing and paying Russia-based employees, paying suppliers and vendors, and meeting other financial obligations,” Google told the Financial Times.

The company said it will continue to offer free services to users in Russia, including Search, YouTube, Gmail, Maps, Android and Play.

The closure of most of the company’s commercial operations followed President Vladimir Putin’s invasion of Ukraine. Google-owned YouTube also blocked Russian state-backed media channels after initially blocking them from advertising.

Russia has repeatedly fined Google for allegedly “false information”. A Moscow court in April ordered the Alphabet subsidiary to pay around Rbs 11 million ($173,000) for failing to remove “banned content” about Ukraine from its YouTube video platform.

Fedresurs, Russia’s financial registry, said in a statement released on Wednesday that Google said it foresees “its own bankruptcy and inability to meet financial obligations” starting Sunday.

Google’s Russian unit to file for bankruptcy after seizure of bank account Source link Google’s Russian unit to file for bankruptcy after seizure of bank account

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