Hello! This week we look at how the war in Ukraine has roiled Yandex — the ‘Russian Google’ — amid different approaches to strategy and many top managers leaving the country. We also look at why the state decided gas giant Gazprom would be making no dividend payments this year, and why the ruble plunged last week .

Five months into the war, Yandex is split in two, with founder Arkday Volozh and the company’s leaders in Russia on opposite sides of the barricades. Part of the senior management stayed in Moscow and decided to save the ‘Russian Google’, the rest left, believing there is no future. The Bell explains how the war has divided Russia’s biggest IT company, and what Alexei Kudrin has to do with it. Arkady Volozh The start of the war At 5:50 on the morning of Feb.

Why the ruble will not get cheaper further, whether to wait for a new gas war and an extraordinary meeting of the Duma The record of the flow of currency to Russia in the entire history of observations is officially recorded. The Central Bank reported on the phenomenal surplus of the trade balance and the account of current operations: in the second quarter of 2022, the historical record was almost doubled.

All investors know that reliable bonds should grow during collapse in the stock market, thus protecting the portfolio. But not everyone knows that this dependence did not always work (and, perhaps, will not work in the future). We understand the correlation of these assets along with the AQR hedge fund.

Since May, Gazprom has been reducing gas supplies to Europe, formally not in retaliation for numerous sanctions packages, but under a number of plausible pretexts. As a result, the concern now supplies the EU with about a third of the usual level in previous years. One of the main such pretexts for Gazprom was the turbine of a gas-pumping unit, which was stuck after repairs in Canada due to sanctions. But now the Canadian authorities seem ready to return the unit.

Putin, by his decree, has simplified the acquisition of Russian citizenship for all citizens of Ukraine, and not just for residents of the LPR and DPR. “Establish that citizens of Ukraine, the Donetsk People’s Republic or the Lugansk People’s Republic and stateless persons permanently residing on the territory of the DPR, or LPR, or Ukraine ... have the right to apply for admission to the citizenship of the Russian Federation in a simplified manner,” — says in the document.

In recent months, most of the Russian IT companies have found themselves in crisis - but, it seems, not VK. The group breaks audience records, steals advertising revenue from blocked competitors, and “replaces imports” for important IT platforms for the state. And VK claims almost all major Internet assets for sale. We tell how VK is trying to become the main IT company in Russia.

European markets reacted positively to the news of the weekend about the return of the turbine for Nord Stream 1 by Canada: the price of gas on the ICE Futures site at the beginning of trading on Monday fell by 12%, to 154 euros per megawatt-hour or $1,640 per thousand cubic meters, writes RBC . Over the weekend, Canada, represented by Natural Resources Minister Jonathan Wilkinson, confirmed that it would release the GPA despite the sanctions.

Nord Stream 1 has been stopped. In the West, they fear that deliveries will not resume in the same volumes - or at all - even after the return of the gas-compressor turbine to Russia Today, July 11, the operator Nord Stream AG stopped the Nord Stream 1 gas pipeline for scheduled maintenance - pumping was stopped at 7 am Moscow time.

For the first time since 2009, the global economy is facing a recession. US GDP fell by 1.6% in the first quarter of 2022 and will almost certainly be in the red in the second quarter. The global economy is still predicted to fall in growth by at least half compared to last year, and in 2023 there is a high probability of going into the red.

The Bell continues to conduct online, dedicated to the economic consequences of the "special military operation" in Ukraine, which began on February 24 SUPPORT THE BELL The war completely changed our lives. We have been writing about its consequences for each of us online since February 24. We have never taken money from readers for content, believing that we can earn money ourselves. But now our business model, like so much else in the economy, has collapsed. Help The Bell keep going!