Google Faces Astronomical Fine from Russia Over Media Account Bans

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6 days ago
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Russia has imposed an astronomical fine on tech giant Google, amounting to a staggering $20,000,000,000,000,000,000,000,000,000,000,000,000. To put it simply, it's the number 20 followed by 33 zeros. This fine is the result of a four-year legal battle.

The conflict began in 2020 when YouTube, owned by Google, banned the Russian media account Tsargrad TV. Tsargrad won a legal case in Russia, and following the 2022 Russia-Ukraine conflict, YouTube banned numerous Russian media accounts to align with Western sanctions. This led to further lawsuits against Google by affected Russian organizations.

Russian courts ordered Google to reinstate the banned accounts, imposing a daily fine of 100,000 rubles (approximately $1,029) for non-compliance. The stakes escalated as the fine doubled each week if not paid, leading to the current astronomical figure. Google, which has exited the Russian market and declared its Russian subsidiary bankrupt, is unlikely to pay this fine. Though YouTube is not officially blocked in Russia, its accessibility is inconsistent.

Russian media companies have filed lawsuits in countries like South Africa, Turkey, Hungary, and Serbia to enforce the fine. A Kremlin spokesman acknowledged the fine's symbolic nature, suggesting it should prompt Google to address the issue.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.