The parent company of Yandex, known as the “Google of Russia”, wants to cut ties with the country

The parent company of Yandex, Russia’s most famous technology company, wants to cut ties with the country to protect its new business from the consequences of the war in Ukraine. Tech Western goods and services stifled by sanctions.

Yandex’s Dutch holding, often called the “Google of Russia,” will take its most promising new technologies to markets outside Russia under an overhaul and sell established businesses in the country, including the popular Internet browser and food delivery. and taxi-hailing apps, did not speak publicly because of the sensitivity of the discussions, according to two people familiar with the matter.

The company’s plan aims to protect itself from the domestic market and highlights the stifling effect of Western sanctions on Russia’s once-thriving technology sector.

The war in Ukraine has made Yandex’s development of new technologies such as self-driving cars, machine learning and cloud services unacceptable, people familiar with the matter said. One of them added that such businesses, which require access to Western markets, expertise and technology, will go bankrupt if they remain tied to Russia.

Yandex’s Russian subsidiary will continue to offer the same products in the country under its new owners, a second person with knowledge of the matter said.

It is unclear whether Yandex’s plan will move forward. One of the people said the company needs to get the Kremlin’s permission to move its Russian-registered technology licenses out of the country. It will also have to find buyers for its business, most likely within Russia, and the overall restructuring plan will have to be approved by Yandex’s shareholders.

Yandex’s plan is backed by Alexei Kudrin, the Russian government’s auditor general and a longtime confidant of Mr. Putin. Mr. Kudrin, one of the few known economic liberals left in the Russian government, works unofficially for the company but is expected to take on a managerial role in the future.

Mr. Kudry is expected to meet with Putin this week to discuss the future of Yandex and other issues, a person familiar with the matter said. Kremlin spokesman Dmitry S. Peskov said on Thursday that he had no knowledge of such a meeting.

Yandex declined to comment. The Russian Audit Chamber, Mr. Kudry’s employer, did not respond to a request for comment.

The Russian economic media outlet The Bell reported for the first time about the restructuring plan of the company.

Western attempts to isolate Russia economically after its invasion of Ukraine destroyed the once-thriving company. In the last year, the price of Yandex shares sold in Moscow has fallen by 62 percent. The company’s New York-listed shares lost more than $20 billion before the Nasdaq stock market halted trading in February after Russia intervened in Ukraine.

More than 18,000 thousands of Yandex employees have left Russia since the occupation began. In March, Tigran Khudaverdyan, the company’s deputy executive director at the time, challenged the Kremlin’s line in a Facebook post, calling it a “terrible war.”

In an effort to distance itself from the war’s political fallout, Yandex in August sold its online news aggregator, which had been rife with state propaganda because of increasingly strict Russian media laws banning criticism of the war.

The European Union imposed sanctions on Mr. Khudaverdyan in March for Yandex’s role in promoting the Kremlin’s war narrative. Its leader, Arkady Volozh, the company’s founder who lives in Israel, was sanctioned by the bloc a few months later. Both have resigned from the company so that the company can continue to operate in Europe.