Yandex opposes Russia's move to cap foreign ownership of streaming services at 20%

Yandex opposes Russia's move to cap foreign ownership of streaming services at 20%

Photo: Reuters

A draft law proposing to limit foreign shareholdings in Russian companies that offer online video streaming services to 20% could worsen the investment climate, a spokesperson for internet giant Yandex told Reuters on Monday.

Russian lawmaker Anton Gorelkin on Friday submitted the draft law to the lower house of parliament, the Duma, saying in a blogpost that new amendments were aimed at protecting the Russian market from “the excessive influence of foreigners”.

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