Spotify Cancels Russia Launch for 'Foreseeable Future'

Spotify has cancelled plans to launch their services in Russia.

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.

Read more