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  • 13 - A Unicorn under Sanctions: The Case of Yandex

  • Edited by Veneta Andonova, Universidad de los Andes, Colombia, Diego Finchelstein, Universidad de San Andrés (Argentina), Juana García Duque, Universidad de los Andes, Colombia
  • Book:
    Unicorns from Emerging Economies
    Published online:
    05 December 2025
    Print publication:
    08 January 2026, pp 357-375

  • Summary

    In this chapter we discuss the case of the Russian unicorn Yandex, also known as the ‘Russian Google’. The company has become one of the largest information technology (IT) champions in Russia over the years and seemed to be unaffected by government, political interests and geopolitical tensions. In 2022, after the military conflict with Ukraine triggered severe economic sanctions on Russia, the company experienced political pressures both from the sanctioning countries and its home country government. We analyse the journey of Yandex, which started as a national IT unicorn, and shed light on its transformation into a state-affiliated enterprise in a dynamic situation of geopolitical reshuffling.