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Putin Ally Kudrin to Take Yandex Role After President Approves

  • Russian tech giant hit by sanctions on founder, isolation
  • Restructuring would separate Russian businesses from foreign
Alexei Kudrin

Alexei Kudrin

Source: Bloomberg

Updated on

Alexei Kudrin, a longtime ally of Vladimir Putin, is expected to take a senior role in a restructuring of Yandex NV after winning the Russian president’s blessing to leave government service amid an overhaul of the country’s most prominent technology company following sanctions imposed over Putin’s war in Ukraine.

Kudrin, a former finance minister who’s worked with Putin since the 1990s and won a reputation as a relative economic liberal, is expected to handle the restructuring and sale of Yandex’s main businesses to a Russian investor and may get options for as much as 5% of that company, they said. Some international businesses would be spun off into a new entity with no ties to Russia.