Yandex is having a hard time because of Russia Ukraine war

The Russia-Ukraine war not only affects people’s lives, but also deeply affects the technology world. Due to the embargoes, many famous technology companies stopped their activities in Russia. In addition, the operations of Russian companies in other countries were suspended. The Russian technology company Yandex was the most affected by this situation. Yandex made a statement on the subject and stated that it may be facing a financial collapse.

Developed by the Russians as a competitor to Google, Yandex officially operates as a Netherlands-based company. However, this did not help him to avoid embargoes. The American Nasdaq Exchange has stopped trading Yandex stocks.

Yandex will experience a major crisis if shareholders demand repayment

Acknowledging that Yandex is in financial difficulty due to the current geopolitical situation, the company said in a statement. has formally warned shareholders of the risk of default. Investors have the right to demand full repayment and interest due to the fact that the shares are not traded for a long time. Investors own $1.25 billion worth of shares. According to Yandex’s statement, if the bondholders demand repayment, the company does not have sufficient funds to pay its debts.

Yandex states that there is no financial obstacle in providing its services at the moment, but it may be adversely affected by economic developments. He states that he started to make emergency planning in order to stay afloat. Depending on the course of the Russia-Ukraine war and the continuity of the embargoes, it will be clear whether Yandex will survive.