INSUBCONTINENT EXCLUSIVE:
Western sanctions over its invasion of Ukraine.The company's revenues rose 46% compared to the third quarter of last year, reaching 113.2
delivery service, in addition to running online retail sites and the country's top search engine.The group said its "e-commerce, mobility
and delivery service" rose 49% in this trimester, taking advantage of its competitors leaving the Russian market over the Ukraine
global economy have created an exceptionally challenging environment for our business, team and shareholders," its statement said, adding
Vladimir Putin announced the mobilization of 300,000 reservists to prop up Moscow's forces in Ukraine.The company appears to have been
unaffected by the war though so far, posting strong growth in the second quarter despite the Russian economy contracting by 21.8% during the
same period, according to the IMF.Soaring global energy prices have helped cushion the Russian economy, but mobilization and the emigration
of large numbers of men to escape it could have a disruptive impact on output and demand.This summer Yandex announced it was selling its
search engine to the government-controlled VK group, which owns the country's largest social network VKontakte.Yandex co-founder and CEO
Arkady Volozh resigned from the group's board in June after being sanctioned by the EU.Yandex is registered in the Netherlands and has
and United States subsidiaries, though the bulk of its business is in Russia and the former Soviet Union.
