The European Union has made a rare decision to lift sanctions against a Russian technology tycoon, Arkady Volozh, co-founder of Russia’s largest tech company, Yandex. This move comes as Volozh publicly condemned the invasion of Ukraine and took steps to sever ties with Russia, a decision that has been welcomed by some members of the Russian opposition.
Volozh, who was previously on the EU sanctions list for promoting Kremlin propaganda on Yandex’s news service, resigned from Yandex and stopped traveling to Russia after being sanctioned. Last year, he issued a strong condemnation of the war, calling it “barbaric.”
In a significant move, Yandex’s parent company, in which Volozh holds 8 percent of shares, recently struck a deal worth about $5 billion to divest all its assets in Russia, including a popular browser and ride-hailing app. The sale was approved by Yandex’s shareholders last week.
The decision to lift sanctions against Volozh highlights a shift in the West’s approach to pressuring the Kremlin. While hundreds of Russian elites have been targeted with sanctions since the invasion of Ukraine, some believe that pairing punishment with relief for those who publicly denounce the war could be more effective in turning Russian elites against President Vladimir Putin.
However, sanctions relief has been controversial, with some viewing it as a reward for individuals who have benefited from close ties to the Russian government. Prominent opposition leader Leonid Volkov resigned from an anti-corruption group last year after a leaked letter suggested he was lobbying the EU to remove sanctions from a Russian oligarch, admitting that he was wrong to believe it would lead to a split in the Russian elites.
The decision to lift sanctions against Arkady Volozh marks a significant development in the ongoing conflict between Russia and Ukraine, as well as the complex relationship between the West and Russian elites.
