23 Dec 2015 11:03

U.S. sanctions won't affect Yandex.Money operations - company representative

MOSCOW. Dec 23 (Interfax) - The Yandex.Money electronic payment system does not engage in any activity that might be restricted owing to the U.S. sectoral sanctions imposed on Tuesday, a spokesman for the company told Interfax.

"The sanctions themselves prohibit operations to raise various types of financing from the U.S., such as loans and issuance of obligations. Yandex.Money does not engage in that activity," the spokesman said.

The Yandex.Money electronic payment system, which is tailored for e-commerce, enables participants to make payments in real time. Sberbank of Russia purchased a 75% stake in Yandex.Money in 2013. Yandex retains a blocking stake.