The deal to sell the Russian part of Yandex to billionaires may not go through due to sanctions risks, four people familiar with the negotiations told Meduza and The Bell.
In May, The Bell sources said that that the former head of the Accounts Chamber, Alexei Kudrin, who moved to a senior position at Yandex, met with Vladimir Putin and discussed the future of the corporation with him.
According to the interlocutors of the publication, Kudrin agreed with the president of potential buyers of a controlling stake in Yandex, which remained after the departure of its founder Arkady Volozh — he resigned from the directors of the Russian structure after the EU imposed sanctions against the company because of war.
The list of potential buyers included billionaires Vladimir Potanin, Alexei Mordashov, Vagit Alekperov, and VTB Bank, but there could have been more names and companies, The Bell emphasized. The applications were considered by the board of directors of Yandex and promised to check them for compliance with the sanctions restrictions.
According to Meduza's and The Bell's interlocutors, no decision has yet been made, since the list approved by Putin does not suit foreign directors on the Yandex board — almost all of the proposed candidates from it are under EU sanctions and USA.
Only the co-owner of Lukoil, Vagit Alekperov, did not fall under European and American restrictions (only Great Britain, Canada, Australia and New Zealand imposed sanctions against him). One of the publications' sources adds that Alekperov also became the only buyer who was ready to pay for his share without installments and at a better price. At the same time, investors do not want one person to have such significant control over the corporation.