6 Jun 2022 14:56

Yandex co-founder Volozh to appeal EU sanction against him

MOSCOW. June 6 (Interfax) - Ex-CEO and co-founder of Yandex Arkady Volozh will challenge the EU decision to put him on its sanctions list, the Internet company said in a statement.

According to the European Court of Justice's website, the case, in which Volozh is a plaintiff, is not currently on file.

The EU imposed sanctions against Volozh on June 3. On the same day, he left his position at Yandex Group and its international subsidiaries. He also resigned from the company's board of directors.

In addition, Volozh decided not to personally participate in the voting of the company's shares, which are in his family trust. His votes will be counted based on the recommendations of Yandex's board of directors.

Volozh transferred his stake in Yandex to a family trust in 2019. The trust holds 45.27% of Yandex's votes.