Russian court fines Google more money than the world's GDP
30 October 2024, 20:28
A Russian court has fined Google $2.5 decillion, which is more than the world’s GDP, for allegedly blocking pro-Kremlin propaganda on YouTube.
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The fine, which is written as 20 followed by 33 zeros, came following complaints by 17 Russian TV channels after their accounts on YouTube were blocked as a result of international sanctions.
The court ruled that Google had to pay a fine of 100,000 Rubles ($1,025) per day, with the total fine doubling every week.
The court case started in 2020 after the Google-owned YouTube blocked accounts for Russian ultra-nationalist station Tsargrad, after its owner fell foul of US sanctions.
Other Russian stations joined the lawsuit in 2022, after YouTube blocked their accounts following Russia’s invasion of Ukraine.
Google, which reported revenue of $306 billion last year, restricted the creation of new accounts for Russian users last month and deactivated AdSense accounts in the country in August.
Online ads have also not been served to Google users in Russia since March 2022 as part of broader sanctions against Russia.
The restrictions prompted Russian authorities to seize Google’s bank accounts, forcing the US firm’s Russian subsidiary to file for bankruptcy. Google’s free services, including YouTube and Search, have continued to operate in Russia.
Google acknowledged its ongoing legal issues in Russia in its latest quarterly results, which were published on Tuesday evening.
“We have ongoing legal matters relating to Russia,” the company noted in the report.
“For example, civil judgments that include compounding penalties have been imposed upon us in connection with disputes regarding the termination of accounts, including those of sanctioned parties.
“We do not believe these ongoing legal matters will have a material adverse effect.”
According to the World Bank, global GDP stands at around $100 trillion, or $100,000,000,000,000.
The market value of Google's parent company, Alphabet, stands at 2% of that, or $2,000,000,000,000.
The fine appeared to have no impact on Alphabet, which saw its shares rise more than 5 per cent in after-market trading on Tuesday after beating its third-quarter earnings expectations.
