Russian billionaire asks EU to remove sanctions – FT

The co-founder of tech giant Yandex is reportedly seeking sanctions relief after denouncing the military operation in Ukraine

Russian billionaire and co-founder of Yandex – Russia’s largest internet company – Arkady Volozh has formally requested that the EU lift the sanctions against him, the Financial Times reported on Sunday, citing sources.

Directly requesting that the sanctions be removed was apparently the only option left for Volozh, a source close to the businessman told the FT.

“Frankly, it is hard to imagine what else he could do. And there are hundreds of other sanctioned Russian businessmen watching closely to see what Brussels does,” the source said, implying that others may follow suit if publicly denouncing Russia helps Volozh escape the sanctions. The newspaper added that the businessman declined to comment on the matter.

The request comes after Volozh publicly condemned the conflict between Russia and Ukraine, which Moscow launched in February 2022. Earlier this month, he called the Russian military operation a “barbaric invasion,” expressing concern over the fate of the people of Ukraine, many of whom are his “personal friends and relatives.”

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“I have to take my share of responsibility for the country’s actions,” Volozh said. “There were reasons to stay silent during this long process. While there will anyway be questions about the timing of my statement today, there should be no questions about its essence. I am against the war.”

Apart from this, Volozh altered his biography on his personal website, in an apparent attempt to renounce his nationality as well. The businessman now calls himself a “Kazakhstan-born Israeli tech entrepreneur, computer scientist, investor and philanthropist.” He has lived in Israel since 2015 and has not visited Russia since the conflict with Ukraine broke out.

Volozh stepped down from his role as CEO of Yandex last year, after his name appeared on the EU’s sanctions blacklist. The restrictions have resulted in various problems for him, including squatters occupying his property in Amsterdam, while he is unable to sell or maintain the building.