Popular music streaming service Spotify has canceled plans to open offices and launch their service in Russia, the RBC news website reported Monday.
Spotify reportedly last year hired Alexander Kubaneishvili, a former Google executive, to head their Russian business and were already in negotiations with local mobile operators.
“With regret I inform you that Spotify has decided against launching in Russia for the foreseeable future. There are several reasons — the economic crisis, the political situation, new laws and the regulation of the internet,” Kubaneishvili said, according to RBC.
The Sweden-based company is the latest in a series of foreign firms to announce their exit, or the scaling back of their projects in Russia, amid a ruble crisis, deepening economic recession and a political standoff with the West over fighting in eastern Ukraine.
Kubaneishvili will quit Spotify in February, according to RBC.
Spotify's international press service did not immediately respond to a request for comment.
The music streaming service originally planned to launch in Russia in October but the event was delayed to the beginning of 2015, according to a Sept. 4 report by Russian news agency TASS.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
