GOOGLE’S RUSSIAN SUBSIDIARY TO FILE FOR BANKRUPTCY AFTER BANK ACCOUNT SEIZED

From WWW.REUTERS.COM

May 18 (Reuters) – Google’s Russian subsidiary plans to file for bankruptcy after the authorities seized its bank account, making it impossible to carry on operations, a Google spokesperson said on Wednesday.

Alphabet Inc’s Google (GOOGL. O) Google has been under pressure in Russia for months for failing to delete content Moscow deems illegal and for restricting access to some Russian media on YouTube, but the Kremlin has so far stopped short of blocking access to its platforms.

“The Russian authorities seizure of Google Russia’s bank account has made it untenable for our Russia office to function, including employing and paying Russia-based employees, paying suppliers and vendors, and meeting other financial obligations,” a Google spokesperson said.

“Google Russia has published a notice of its intention to file for bankruptcy.”

A TV channel owned by a sanctioned Russian businessman said in April that bailiffs had seized 1 billion roubles ($15 million) from Google over its failure to restore access to its YouTube account, but this is the first time the U. S. tech giant has said its bank account as whole has been seized. read more

Google did not immediately confirm whether it was the seizure of those funds that led to its intention to file for bankruptcy, or whether other seizures had occurred.

The database of Russia’s Federal Bailiffs Service listed two seizures since mid-March, without specifying the amounts, as well as other fines and enforcement fees.

The service confirmed that it had seized Google assets and property.

A note posted on Russia’s official registry… (Read more)