Russian Mail.Ru Group intends to close the representation in Ukraine over imposed sanctions, Mail.Ru Group CEO Boris Dobrodeyev told the Russian edition of Kommersant.
"The representation on the market became irrelevant in view of the sanctions that Ukraine imposed against us," he said, having added that Ukrainian office is "pretty compact" anyway.
According to Dobrodeyev, Mail.Ru Group offered the Ukrainian team work in Russia.
Ukrainian business "did not make a significant contribution to the company's revenue" so Mail.Ru does not expect a negative impact on its financial performance.
Earlier, Mail.Ru Group stated that Ukrainian sanctions would not make them to change their work.
Mail.Ru Group is a Russian technology company founded in 2005 that owns social networks VKontakte and Odnoklassniki, instant messaging services ICQ and Agent Mail.Ru, e-mail service Mail.Ru, portals Mail.ru and My.com and the components of their services.
President Petro Poroshenko on 16 May inked a National Security Council resolution to impose sanctions against 1,228 Russian citizens and 468 companies.
Sanctions would also apply to Russian lawmakers and media outlets.
Social networks Vkontakte, Odnoklassniki.ru and Internet resources Yandex and Mail.ru have been put on the sanctions list.