Russian tech giant Yandex will sell its digital news and blogging products to its internet conglomerate VK, the companies announcement Thusday.

The sale of Yandex.News and Yandex.Zen to VK comes as Yandex, once the crown jewel of Russia’s rising IT scene, faces an increasingly uncertain future due to Western sanctions and the exodus of Russian computer scientists following the invasion of Ukraine.

Key terms of the agreement, which have not been made public, have been settled and the sale agreement must now obtain approval from corporate and regulatory authorities, the companies said in a statement.

VK-Yandex deal talks have been ongoing since at least March, according to RBC’s news website reported.

“Changing economic conditions” and “increasingly difficult access to capital” were among the main reasons Yandex decided to sell its two media services, RBC said citing its sources.

The deal was delayed by an order from the Kremlin, the Russian service of the Moscow Times. reported April 19.

RBC says Yandex plans to invest more in city logistics and its search engine following the sale of Yandex.News, its news aggregation platform, and Yandex.Zen, a publishing platform used by bloggers. Russians and digital media.

VK already controls mail and news services, social networks VKontakte and Odnoklassniki, food delivery service Delivery Club and other assets.

Yandex’s vast network of digital services includes a search engine, e-commerce platform, food delivery service, ride-sharing app, Yandex Music and more.

CV mentioned it had a record first quarter this year with 100.4 million users in March alone, the most in its history.

VK’s CEO, Vladimir Kirienko, is the son of Sergei Kirienko, Deputy Chief of Administration of President Vladimir Putin.