Yandex money transfer fees: What’s Behind Russia’s New Offensive Against the Internet Economy?

For that reason, just days before Gorelkin initiated his draft law, Sberbank announced it had agreed to form a strategic partnership with Mail.ru. The two companies will create a joint enterprise worth 100 billion rubles. Both companies will contribute money, and Mail.ru will contribute its Citymobil taxi app and Delivery Club food delivery service — Yandex’s main competitors. The logic here is predatory: As Yandex is altering its ownership structure and losing value, Sberbank and Mail.ru will occupy the dominant position on the competitive market.

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