Yandex stops investing in businesses in many countries

Yandex will reduce or suspend planned investments in its business in Uzbekistan and other countries.

This is stated in the company's report for 2021.

According to Yandex, none of the group's companies or its leaders have been targeted by sanctions imposed by the United States, the European Union or the United Kingdom.

However, the prolonged economic downturn in Russia as a result of sanctions, the devaluation of the ruble and negative consumer sentiment could have a serious negative impact on its financial condition and performance.

For information:

Yandex has several projects in Uzbekistan;

Yandex officially entered Uzbekistan in 2019 after launching a taxi booking service in Tashkent;

In recent years, the company has launched about 30 services in the country, such as "Maps", "Navigator" and "Panoramas".