UPDATE: Yandex shares fall after EU slaps sanctions on co-founder Volozh

(Updates stocks details, adds paragraph 2)

MOSCOW/BRUSSELS, Jun 3 (PRIME) -- The shares of Yandex lost 7.35% to 1,475 rubles on the Moscow Exchange as of 4.17 p.m. local time after the E.U. added the company’s co-founder Arkady Volozh to the sanctions list in the sixth package, according to information seen by PRIME on Friday in the E.U. official journal.

“Volozh is a leading businessperson involved in economic sectors providing a substantial source of revenue to the government of Russia,” the E.U. said.

“Furthermore, as founder and CEO of Yandex, he is supporting, materially or financially, the government of Russia… and is responsible for supporting actions or policies which undermine or threaten the territorial integrity, sovereignty and independence of Ukraine,” the E.U. said.

(61.5750 rubles – U.S. $1)

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