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Google Russia filed for bankruptcy after Russia freezes bank account

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As expected, Google’s Russian subsidiary has filed for bankruptcy.

Russian news service Interfax Friday reported that Google filed a bankruptcy petition with the Moscow Arbitration Court on Thursday. This follows the May 18 filing intended by Google LLC, a Russian subsidiary of the US-based search giant, to declare bankruptcy.

The May application stems from Russia’s seizure of Google LLC’s bank account due to Google’s stance on Russia’s war with Ukraine.

[Related: Google Russia To File For Bankruptcy After Bank Account Seized]

Google did not respond to a CRN request for more information by the press time.

“The seizure of Google Russia’s bank account by Russian authorities has prevented the Russian office from functioning, including hiring and paying Russian-based employees, paying suppliers and vendors, and fulfilling other financial obligations.” A Google spokesperson confirmed on May 18. Email to CRN. “Google Russia has released a notice of its intention to file for bankruptcy.”

Interfax Friday, registered in Russia in 2005, was registered by Google LLC in Russia at the end of 2021 with an exchange rate of 134.3 billion rubles, or 1 rubles from December 31st to January 1st, at an exchange rate of about $ 1.8 billion, 0.0134. I reported that I reported the dollar. Google LLC also posted a net loss of 26 billion rubles, or $ 348 million. This said Interfax was the company’s first loss since 2009.

2022 has proven to be a difficult year for tech companies that have invested in business opportunities in Russia. Russia’s provocative attacks on Ukraine, including IBM, HP Inc., Hewlett Packard Enterprise, SAP, DXC Technology, and Accenture, have led many prominent tech companies to suspend or suspend operations in Russia.

2022 was a particularly difficult year for Google in Russia.

Russian news site TAdviser reported that in 2022 Google Russia was fined a total of 30 million rubles three times for not removing the banned information. The company also said it would pay TV channel Tsargrad 1 billion rubles for blocking Google and YouTube channels, 500 million rubles after a lawsuit from Nippon Television, and 1 billion rubles in cases including all-Russian state television and radio broadcasts. I was forced to do it. Company.

In addition, Bloomberg reported in March that Google had begun to move some of its Russian employees abroad.

Sources

1/ https://Google.com/

2/ https://www.crn.com/news/channel-programs/google-russia-files-for-bankruptcy-after-russia-freezes-bank-account

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