November 29, 2018 / 8:54 AM / 11 days ago

Russia has no plans to increase fines for Internet companies: report

FILE PHOTO: Maxim Akimov, Russian Deputy Prime Minister responsible for transport and communications, attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia May 24, 2018. Valery Sharifulin/TASS/Host Photo Agency/Pool via REUTERS

MOSCOW (Reuters) - Russia’s government has no plans to increase fines for Internet companies that break Russian laws, TASS news agency cited Deputy Prime Minister Maxim Akimov as saying on Thursday.

Three sources familiar with the matter told Reuters on Monday that Russia planned to impose stiffer fines on technology firms that fail to comply with domestic laws.

The legislation, if it goes ahead, would hit global tech giants like Facebook and Alphabet’s Google, which if found to have breached rules could face fines equal to 1 percent of their annual revenue in Russia, the sources said.

Reporting by Anastasia Teterevleva; Writing by Tom Balmforth; Editing by Jan Harvey

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