For comparison, the global GDP is about $110 trillion according to IMF estimates, while Google’s parent company, Alphabet, has a market valuation of roughly $2 trillion.
Russian state media TASS reported that a Russian court had previously mandated Google to restore several YouTube channels blocked since 2022, warning of fines that would double weekly until compliance.
Kremlin spokesman Dmitry Peskov acknowledged that even he “can’t pronounce this figure right” but emphasized its “symbolic value,” asserting that Google “should not restrict our broadcasters on its platform.”
Google has noted “ongoing legal matters” in its Russian business, stating that “civil judgments with compounding penalties” are in place for various account terminations, including those affecting sanctioned entities.
However, Google doesn’t expect these legal issues to significantly impact its earnings.
After Russia’s full-scale invasion of Ukraine, Google scaled back its operations in the country, though some services like Search and YouTube remain available.
In 2022, following the seizure of its bank accounts, Google’s Russian subsidiary filed for bankruptcy and suspended most commercial activities.