Google’s Russian subsidiary submits bankruptcy declaration

© Reuters. FILE PHOTO: The US Forex Grouplogo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, U.S., November 17, 2021. REUTERS/Andrew Kelly

(Reuters) -The Russian subsidiary of Alphabet’s Google (NASDAQ:GOOGL) has submitted a declaration of bankruptcy, Interfax reported on Friday, citing court filings online.

The subsidiary announced plans to file for bankruptcy in May after authorities seized its bank account, making it impossible to pay staff and vendors.

"The Russian authorities’ seizure of Google Russia’s bank account has made it untenable for our Russia office to function ... Therefore, Google Russia has filed for bankruptcy," a company spokesperson said.

"People in Russia rely on our services... and we’ll continue to keep free services such as Search, YouTube, Gmail, Maps, Android and Play available."

Russia has restricted access to Twitter (NYSE:TWTR) and Meta Platforms Inc's flagship social networks, Facebook (NASDAQ:META) and Instagram.

Google and its YouTube video hosting service, though under pressure, remain available for now. Moscow in particular objects to YouTube's treatment of Russian media, which it has blocked.

But Anton Gorelkin, deputy head of the State Duma committee on information policy, said the U.S. company was not yet at risk of being blocked.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!