In 2022, Google LLC, a subsidiary of Google Corporation, reported revenue of 24.2 billion rubles. This figure reflected a sharp decline of 82% from the 134.3 billion rubles earned in 2021, a drop documented in the company’s financial disclosures. The year brought significant changes in profitability as well, with the net loss narrowing compared with 2021. The 2021 net loss stood at 26.4 billion rubles, while 2022 showed a reduced deficit of 10.2 billion rubles, marking a reduction of about 61% in losses year over year.
On June 16, 2022, Google LLC filed for bankruptcy. The court accepted the filing in September, and by November the first bankruptcy proceedings were initiated. Current official records indicate that the Russian division carries a debt load of approximately 27 billion rubles, a figure that underscores the severity of the financial strain faced in the Russian market during that period.
Industry observers note that the company’s financial difficulties in Russia were exacerbated by penalties levied by the judiciary over content moderation issues. Reports indicate that fines associated with not removing content restricted for the Russian Federation accumulated over 2021 and 2022, totaling 7.2 billion rubles in 2021 and 21.7 billion rubles in 2022, respectively. These penalties reflect the broader regulatory environment and its impact on multinational tech platforms operating in the region.
The broader tech narrative during this era included discussions about the governance and strategic direction of major artificial intelligence initiatives. Notably, influential voices in the field cautioned about rapid AI development and the importance of responsible deployment. This context helps explain the heightened scrutiny that large tech players faced as they navigated compliance, public policy, and evolving user expectations across diverse markets.