Yandex will pay a large fine for violating the antimonopoly law

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Yandex will pay a large fine for violating the antimonopoly law

A statement appeared on the Internet, published by the Federal Antimonopoly Service (FAS) of Russia. In it, the department announced that it had discovered that Yandex had failed to comply with the “orders to eliminate antimonopoly violations.”

An administrative case has already been brought up against the domestic IT giant. After its consideration, the company faces a “large fine”. This is stated in the official Telegram channel of the FAS. It also specifies that the amount of the fine will depend “on the amount of revenue in the market.”

Interestingly, against the backdrop of the regulator's reports, Yandex shares on the Moscow Exchange fell by about 7%. Now their price is about 4.5 thousand rubles apiece.

Recall that the primary claims of the Antimonopoly Service against the company are related to the appeal of a coalition of twenty Russian Internet companies. They were outraged that Yandex gives preference to its services in search results.

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