Comment by Throw73747

2 years ago

Not just that. Russia is going to confiscate all Western assets in Russia as a counter measure. Valued roughly at 200B USD, mainly owned by EU countries.

Yandex would lose their Russian business in any case.

Yandex is keeping their Russian business.

This is Yandex's European arm divesting itself from the Search+Mail business they have in Russia.

In the press release, this was even mentioned - that Yandex's Russian management (aka most of it's management) would be buying out their Russian operations.

  • Slight edit to this. I didn't realize the core founding team was pushed out and largely committed Aliyah for Israel after the 2022 War began.

    Not surprised either, as the core team was fairly progressive and anti-war, as a lot of Russian techies are. Also, it was the core team that was working on forward facing bets - sort of like a more functional version of Larry Page and Sergey Brin - and they're keeping those forward facing bets.

    Middle management appears to still be operating in Russia though.

    Edit:

    To people commenting below,

    IT Professionals and most other white collar jobs are draft exempted in Russia [0]

    To make up for the unfairness, mobilized Russian soldiers are being paid Russian/Eastern European white collar level salaries ($2,500/mo) [1]

    [0] - https://www.reuters.com/world/europe/russia-excludes-some-it...

    [1] - https://www.nytimes.com/2023/03/31/opinion/russia-ukraine-wa...

    • Given the move from Russia to Israel and the timing of when most Russian techies left, I suspect it is more out of fear of the draft than out of principle.

      Not that I blame them - I doubt I would leave the US even during an unjust war… but a draft?

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I think there is little hope of normalizing relations with Russia, so unfortunately these "Western assets" need to be written off anyway. A large part of them ($98bn) came from Cyprus which might just be round-tripping Russian money.

  • All wars have something in common: they end. That thought in your head about lack of hope of normalizing relations is just the current propaganda working.

    Edit: it's amazing just how short-sighted people can be. Look, we still bring up the Nazis as an unassailable argument for how something is bad. And yet the war with Germany ended and they are now a US ally fighting Russia. I'm sure in the midst of WW2 the common folk also believed that there can be no peace with Germany, after all the man on the radio said so.

    Besides, during WW2 the situation was the opposite: Russia was an ally. And hey, if you study European history at all you'll note that it's a series of wars with shifting alliances.

    • So do countries, if we're looking at a long enough time scale. There is no end in sight for the war in Ukraine and when the end comes it's likely to be messy. It might be more of a pause than a true end, and one or both sides will likely be pretty unhappy with the outcome. It could be many years before Russia and the west go back to a comfortable economic relationship.

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    • War didn't technically "end" between North and South Korea, North Korea is still a pariah state even if we were to accept the Korean war ended many decades ago.

      Relationship between Russia and the west will probably be restored at some point but not without a lot of Russians and to a lesser extent Ukrainian getting killed, their economy and infrastructure gutted.

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    • Ending wars and normalising relations can take a hell of a lot of time, though. Just ask people who lived in the Balkans, central or Eastern Europe, Korea, or in Palestine at some point in the 20th century, to name but a few examples. Or those who lived in a constant background of warfare basically anywhere in the world at any point in time. The pax romana and the stability brought by well-managed empires are remarquable for a reason.

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    • > All wars have something in common: they end. That thought in your head about lack of hope of normalizing relations is just the current propaganda working.

      I don't think your comment is grounded on reality, and it's ironic how it parrots one of Russia's anti-ukraine propaganda tropes: the collective west should just stop backing Ukraine because the faster they cave in, the faster all relationships normalize.

      Even if you believe fairy tales about forgetting Russia's perpetual threat of nuclear annihilation and Russia's "our empire will extend to Lisbon" threats, all you need to do is look at the Soviet Union's rejection of peace and a free world up to it's collapse to understand that any talk of normalization is at best thoroughly unsupported and at worst more Russian propaganda.

    • > All wars have something in common: they end.

      Not really? Many conflicts routinely simmer on for decades, and peace treaties that officially end a war rarely resolve conflicts. Israel is fighting I believe it's 4th war against Hamas this century, for example; its broader conflict against its neighbors has been going on arguably at least a full century. The Balkans are somewhat infamous for the depth of history of its conflicts: the assassination of Franz Ferdinand was chosen to occur on the 500-somethingth anniversary of another conflict, for example.

    • Germany was utterly defeated, that's why there could be a reconciliation. Neither Russia nor the West will be defeated like that, Russian regime will likely survive. That means a chance of some meaningful reconciliation is slim during next couple of decades.

    • It's true that all wars end eventually. But this happening seems to me a sign that relations might not normalize quite so easily after. Why else would businesses with operations in both Russia and EU be seeking to split themselves apart neatly in advance of sanctions that would make such operations extremely difficult?

    • Everything has something in common: it ends. Whether it's Peace, Countries, Humans, Planets or, yes ... Wars. It's just a question of timescale.

    • Putin will need to put a gun to his head in a bunker before anything "normal" happens. Russia is a Third Reich level regime at the moment. Hence 300k killed and wounded causes zero reaction from the Russian public.

      The Soviet-Afgan war was ended due to public discontent with 100k killed and wounded

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  • > I think there is little hope of normalizing relations with Russia

    After 9/11, the US maintained productive relations with the Saudis. They're actively supporting Israel through the Gaza business. They have a long history of propping up dictators and thrashing countries for hard-to-articulate reasons (I still don't get exactly what the point of Afghanistan or Iraq was, even accepting the blunt "oil" that is sometimes given out).

    I don't see why relations with Russia aren't normalised now. As can be seen in this very announcement (suddenly international deals are being handled in Yuan), the US appears hell-bent on taking Russia and China then welding them together. That seems wildly stupid to me and personally I think it is a serious foreign policy blunder. The US should have sought a quick peace in Ukraine and normalised relations immediately.

    • The US sought a quick peace in Ukraine, they even asked Russia to not invade even before Russia started their invasion. You can't get much quicker than before the events have taken place. It didn't work because Russia isn't interested in peace, but that's not the US' fault.

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    • >(I still don't get exactly what the point of Afghanistan or Iraq was, even accepting the blunt "oil" that is sometimes given out).

      Are you serious? At least on the Afghanistan one? The war in Afghanistan began because the Taliban refused to extradite Osama Bin Laden (and several other terrorist, but Osama was the biggest one), it's pretty straightforward.

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    • We have nothing to gain by normalizing relations with Russia. They have nothing that we want and they can't be trusted to negotiate in good faith anyway. So it's back to containment: Cold War 2. As such we should take every opportunity short of direct conflict to disrupt, undermine, disrespect, and humiliate the Putin regime. In a few decades the Russian empire will undergo another internal collapse or civil war, and then more of their outer territories can be stripped away.

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    • This is a genuinely interesting take despite me disagreeing with the analysis.

      << I don't see why relations with Russia aren't normalised now.

      At the end of the day, people like when the day follows is the same as the previous one. This allows people to plan ahead, live life and so on. It allows business to run uninterrupted. Russia was upending existing post-ww2 order. It was initially doing it slowly. Slowly enough that no one in the west cared to do anything. Obama famously sought a 'reset' with Russia at the time.

      Even in Ukraine, it was not until after Crimea that there was even an appetite and realization that it won't magically stop.

      << the US appears hell-bent on taking Russia and China then welding them together.

      This is probably one of the few spots where we are kinda close, but US already made BRICS a reality with current sanctions regime making it even more relevant. The decisions being made now are a big gamble and I would like to hope that those are made consciously with some forethought. That said, remembering 9/11 Afghanistan, it is merely a hope.

      << I think it is a serious foreign policy blunder.

      That, sadly, we won't know until it all plays out. Who knows what life will look life 50 years from now?

With that is goodbye to any chance of wider Europe investing in Russia for the next century.

I hope India takes notice because so far they seemed to have cared little about the blood on their hands.

  • I was also not very happy about India buying from Russia in the first place, but I've come around and see it as okay for two reasons:

    - Russia still gets far less than they got from the European countries, because no one else is willing to take it, and Europe still gets part of the resources we need

    - The money Russia gets is basically useless, cause so much Rupees are not freely convertible. They sit on a big stash of money that they cannot use to buy the things they need (cause they'd need Dollars or Euros for that)

    I don't think the second part was intentional on Indias part (I believe them when they say they don't care about Europe - which is something we should remember in all future interactions. Fair trade? Yes. Favors for 'friends'? Not one), but it seems to work out well.

  • > I hope India takes notice because so far they seemed to have cared little about the blood on their hands.

    If there's a buyer, there's a seller [0]. EU member states need oil, so they buy it via India.

    There's no alternative to Russian crude for the European market.

    Anyhow, the last time Indian listened to Western oil sanctions over Iran in the 2008-10 period [1], the Indian economy ground to a halt and had a lost decade [2] while China grew with double digits in the same period, powered by Iranian crude.

    Oh, and Iran still exists in 2024 and can project even more power than it ever could in 2014.

    Given this context, India ain't dropping this competitive advantage.

    [0] - https://www.reuters.com/business/energy/fuels-russian-oil-ge...

    [1] - https://www.nytimes.com/2010/12/31/world/asia/31india.html

    [2] - https://www.hks.harvard.edu/sites/default/files/centers/cid/...

    • From Reuters article:

      >Europe typically imported an average of 154,000 barrels per day (bpd) of diesel and jet fuel from India before Russia's invasion of Ukraine.

      >That increased to 200,000 bpd after the European Union banned Russian oil products imports from Feb. 5, Kpler data showed.

      An increase of 50,000 bpd across the whole of Europe is nothing in the grand scheme of things. India imported on average 1.76m bpd last year[0].

      >Anyhow, the last time Indian listened to Western oil sanctions over Iran in the 2008-10 period [1], the Indian economy ground to a halt and had a lost decade

      That sounds like a them problem? Maybe they should invest more in renewables?

      >Given this context, India ain't dropping this competitive advantage.

      The world will remember those who profiteer from war.

      [0]: https://www.reuters.com/world/india/russia-makes-up-40-india...

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