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Home Science & Technology Startup Nation Tech Bits

Russia fines Google $34M for breaching video sharing competition rules

by  Reuters and ILH Staff
Published on  07-26-2022 16:54
Last modified: 07-26-2022 16:54
Google makes vaccination mandatory once campus reopensAP/Marcio Jose Sanchez

Alphabet began this year with growth trends shifting dramatically downward. That already contributed to a 20% decline in its stock price since it peaked at about $3,030 in early February | File photo: AP/Marcio Jose Sanchez

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Russia's competition watchdog fined Alphabet's Google 2 billion rubles ($34.2 million) on Tuesday for abusing its dominant position in the video hosting market, the regulator said in a statement.

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The decision is the latest multi-million dollar fine as part of Moscow's increasingly assertive campaign against foreign tech companies.

The Federal Antimonopoly Service (FAS) said the company had "abused its dominant position in the YouTube video hosting services market," without providing additional details.

"We will study the text of the official decision to define our next steps," Google said in a statement to Reuters.

Google must pay the fine within two months of it entering into force, the FAS said.

Russia has slapped Google's Russian subsidiary with numerous fines in recent months. Last week a court ordered it to pay 21.1 billion rubles ($358.7 million) over what prosecutors said were repeated refusals to remove content Russia deems illegal, such as "fake news" about Russia's invasion of Ukraine.

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