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    SBER   RU0009029540

SBERBANK

(SBER)
  Report
End-of-day quote Moscow Micex - RTS  -  2022-07-07
133.30 RUB   +0.16%
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Russia demands Apple explain VK removal from App Store

09/28/2022 | 07:39am EDT

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This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.

MOSCOW, Sept 28 (Reuters) - Russia's communications regulator on Wednesday demanded an explanation from Apple after applications operated by the Russian state-controlled tech firm VK were removed from the U.S. firm's App Store.

The regulator, Roskomnadzor, has been a thorn in the side of foreign tech firms, issuing fines over data storage violations and for failures to remove content Russia deems illegal - disputes that have escalated since Moscow sent its armed forces into Ukraine in February.

VK runs Vkontakte, which with over 75 million monthly users is Russia's largest social network, often compared to Facebook. Along with VK's email service Mail.ru, Vkontakte must be pre-installed on mobile devices sold in Russia.

Roskomnadzor said Apple's actions had deprived millions of Russians of access to VK apps and demanded that it explain its decision.

Apple said it follows laws in the jurisdictions where the company operates. Apple said the apps in question were being distributed by developers majority-owned or majority-controlled by one or more parties sanctioned by the UK government.

Regardless of location, the apps cannot be downloaded from any App store, said Apple, which terminated the developer accounts associated with the apps to comply with UK sanctions.

State-controlled VK tightened its grip on Russia's internet space this month by finalising a deal to buy rival Yandex's news aggregator, content platform Zen and yandex.ru homepage.

VK CEO Vladimir Kiriyenko is under UK sanctions, along with his father Sergei Kiriyenko, who serves as President Vladimir Putin's first deputy chief of staff.

Roskomnadzor called the restrictions "discriminatory" and said they violated Russian internet users' right to free information and communication.

Russia has, however, itself limited its citizens' access to information by forcing all significant independent Russian media to close and blocking U.S. social media platforms Facebook, Instagram and Twitter.

VK on Tuesday said that its apps, including Vkontakte, continued to work if already installed on smartphones, and that it was continuing to develop and support apps for Apple's iOS operating system.

Roskomnadzor also asked Apple to explain its removal of other apps, including those of airline Aeroflot and a number of banks such as top lenders Sberbank and VTB . (Reporting by Alexander Marrow; Editing by Kevin Liffey and Mark Trevelyan)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AEROFLOT -0.65% 27.6 End-of-day quote.-53.19%
APPLE INC. -4.91% 142.48 Delayed Quote.-15.62%
META PLATFORMS, INC. -3.67% 136.41 Delayed Quote.-59.44%
SBERBANK 0.16% 133.3 End-of-day quote.-54.60%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.82% 57.2164 Delayed Quote.-22.40%
VTB BANK 0.51% 0.01883 End-of-day quote.-61.01%
YANDEX N.V. -6.79% 18.94 Delayed Quote.0.00%
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Analyst Recommendations on SBERBANK
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Financials
Sales 2022 2 848 B 48 754 M 48 754 M
Net income 2022 1 286 B 22 018 M 22 018 M
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 21,5%
Capitalization 2 993 B 51 244 M 51 244 M
Capi. / Sales 2022 1,05x
Capi. / Sales 2023 0,96x
Nbr of Employees 287 866
Free-Float 45,0%
Chart SBERBANK
Duration : Period :
Sberbank Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 0
Last Close Price 133,30
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Herman Oskarovich Gref Chief Executive Officer & Member-Supervisory Board
Taras Skvortsov Finance Director
Anton Germanovich Siluanov Chairman-Supervisory Board
Larisa A. Zalomikhina Director-Compliance Department
Gennady Georgiyevich Melikian Senior Independent Director
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