Stock Groups

Russia to go after Google this month with fine of up to 20% of annual turnover By Reuters


© Reuters. FILE PHOTO. The Roskomnadzor logo is seen on a screen that shows Google’s start page. This picture was taken May 27, 2021. REUTERS/Maxim Shemetov/Illustration/File Photo

Gleb Stolyarov

MOSCOW (Reuters). – Russia announced Tuesday that it will this month pursue a penalty against Google, the U.S. technology giant. This is Russia’s most aggressive effort to curb foreign tech companies.

Roskomnadzor, the communications regulator, stated that Google failed to pay 32.5 Million Rupees (458,100) in sanctions imposed so far this fiscal year. It also announced it would seek a fine equaling 5-20% of Google’s Russian turnover. This could be a substantial increase.

Google has not yet responded to the request for comment.

Russia is putting more pressure on tech companies from abroad to control the internet. Since March, Twitter has been slowing down (NYSE:). Other content violators are routinely being fined by Russia.

After removing an anti-government tactical vote app from its stores, opposition activists accused Alphabet’s Google (NASDAQ) and Apple (NASDAQ) of bowing to Kremlin pressure.

Roskomnadzor had earlier stated in October that it would request a court to impose an amount of turnover on Facebook (NASDAQ) citing the December 2020 legislation.

Roskomnadzor stated in emailed comments Tuesday to Reuters that a similar case would be filed against Google. He noted that Google also owns YouTube video-hosting website YouTube.

SPARK’s business database revealed that Google’s Russia 2020 turnover was 85.5 million roubles. The fine of between 4.3 billion and 17.1 million roubles would be equal to 5-20%.

Google currently fights a court order demanding that it remove the YouTube account from a Russian businessman. If paid, Google would also face an additional fine of 10% on its total turnover.

(£1 = 70.9450 Roubles).

Additional reporting by Alexander Marrow and editing by Kirsten Dovan

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.