Google’s Russian subsidiary files for bankruptcy, citing asset seizure
“The seizure by Russian authorities of Google Russia’s bank account has rendered the operation of our office in Russia untenable, including the employment and payment of Russian-based employees, the payment of suppliers and vendors, and compliance with ‘other financial obligations,’ the Google spokesperson said in a statement. .
The company had already suspended most of its business operations in Russia. But it will continue to offer free services like Gmail, YouTube and Search because “Russians rely on our services to access quality information.”
Google’s bankruptcy filing is the latest development in a tumultuous back-and-forth between the Silicon Valley tech giant and Russian authorities.
In late April, a Moscow court ordered the seizure of 500 million rubles in the possession of Google, worth about $7 million at the time, in a lawsuit stemming from restrictions that the American technology company had imposed on the YouTube channel of a major television company, according to Reuters.
This is a developing story and will be updated.