Yandex - Further Updates

3 years ago
General

This articles is providing additional updates from our initial announcement regarding sanctions on Russian Stores/Services.


Effect of Sanctions


We have now established that Yandex is not currently subject to sanctions preventing the operation of our deal.


However, royalties Too Lost receives from Russian DSPs give rise to an obligation on Too Lost and our licensing partners to pay Russian Value Added Tax (“VAT”). As from June 2022, sanctions will make it illegal for Too Lost and our licensing partners to pay Russian VAT (the next payment of which would be due in July 2022).


This problem is currently preventing us from collecting royalties from Yandex; however we are working with the service and our legal advisers on possible solutions to resolve this issue.


We will update users further accordingly.