MOSCOW (Reuters) - Russia’s top search site Yandex (YNDX.O) said on Tuesday it did not expect Ukraine sanctions to have a material negative impact on its consolidated results.
Ukraine is a small part of the company’s business, Yandex said in a statement, adding it regretted the country’s decision to deny access to its resources to Ukrainian citizens and organisations.
Ukraine imposed sanctions on Russia’s largest internet groups including Yandex and Mail.ru (MAILRq.L) on Tuesday, saying it wanted to guard against cyber attacks.
Yandex said 11 million Ukrainian users used its services every month.
Reporting by Maria Kiselyova; editing by Katya Golubkova