(Reuters) – Russian web big Yandex (NASDAQ:) mentioned on Friday Arkady Volozh has stepped down as CEO and left the board of administrators after the European Union had included him on its newest record of sanctions in opposition to Russian entities.

Volozh has transferred his voting energy to the board, Yandex mentioned, including that it believes that “the brand new developments will have an effect on the corporate’s operations, its monetary place or its relations with companions.”