Alphabet’s Google on Saturday (Feb. 26) banned Russia’s state-owned media outlet RT and other channels from receiving money for ads on their websites, Reuters reported.
Google’s YouTube unit said it was putting on ice several channels, including Russian ones affiliated with recent sanctions in the wake of its invasion of Ukraine.
Ad placement is largely controlled by YouTube. And Reuters wrote that Google later said it was barring Russian media outlets from using its ad technology to get revenue elsewhere, and that they won’t be able to buy ads through Google Tools or place ads with various services like search and Gmail.
According to Michael Aciman, a spokesman for Google, the company was looking into further steps.
Videos from affected media will also be pushed down in search results and will come up less. In addition, RT and other channels won’t be accessible in Ukraine after the government there requested it.
The European Union has also taken action, rolling out sanctions against Margarita Simonyan, editor-in-chief of RT and reportedly a chief architect for Russian propaganda.
Read more: Russians Hoard Cash in Wake of Bank Sanctions
PYMNTS wrote that Russian citizens have been rushing to the bank withdraw cash, fearing a financial crisis due to the economic sanctions. Long lines formed at banks late last week for both rubles and dollars.
Some banks ran out of U.S. dollars by the middle of the day Thursday (Feb. 24).
The decision to invade Ukraine last week by President Vladimir Putin had the consequence of sending the ruble to its lowest value in recent memory.
EU countries agreed over the weekend to curb the Russian central bank from using its foreign currency reserves. Some lenders were also cut off from the SWIFT global payment system.
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