Yandex co-founder Volozh wants to get sanctions lifted in the EU court
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The former CEO of Yandex and one of the founders of the company, Arkady Volozh, is taking legal steps to overturn the personal sanctions imposed on him by the European Court of General Jurisdiction, reports Bloomberg, citing information provided by Volozh’s lawyers.
In the summer of 2022, Volozh came under EU sanctions, and in December of the same year he addressed Yandex employees and said goodbye to everyone in a New Year’s address. Later, representatives of Arkady Volozh released his statement, in which he noted that he has not lived in Russia since 2014, and also ended his connection with Yandex.
According to a statement by one of Volozh’s lawyers, he is currently not a significant shareholder of Yandex, since he has lost ownership and any control over the company. In the past, it transferred its 8.6% stake to an independent trustee. However, these arguments were rejected by the European court, which argued that Volozh appears to continue to play a key role in the Russian economy.
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