VK Applications Removed from Apple’s Platform
Apple has deleted several applications developed by the Russian tech company VK from its App Store in Russia, including Odnoklassniki, Zen, VK Video, VK Messenger, VK Music, and VK Dating. This move has sparked significant controversy, as VK has stated that it is not subject to international sanctions and does not appear on any sanctions lists. The company claims it provided Apple with all necessary legal documents and clarifications regarding its status in advance. In response, Apple justified its decision by citing adherence to sanctions restrictions, explaining that 'the company complies with the laws of the jurisdictions in which it operates.'
Financial Fallout and Kremlin Reaction
Users who have already installed these apps can still use them, but they are experiencing certain disruptions, such as the disappearance of message notifications and the inability to make calls. Downloading or updating these applications through the App Store is no longer possible. Meanwhile, Android users have faced no such restrictions.
Against this backdrop, VK shares on the Moscow Exchange plummeted to an all-time low of 183.4 rubles per share. Over a single day, the stock dropped by 5.5%, with a total decline of 23% since the start of the week. Since the beginning of the year, VK’s market capitalization has decreased by 39%, amounting to roughly 73 billion rubles. Since its stock market debut in December 2021, the holding company’s shares have fallen by 80%, with total losses reaching 425 billion rubles, or approximately $5.7 billion at the current exchange rate.
The Kremlin has responded to the situation by threatening to reassess its interaction with Apple. Dmitry Peskov, the press secretary for the President of Russia, stated that this decision 'harms the interests of tens of millions of people' and called for an 'immediate solution: switch to Android or our systems.'
Dmitry Peskov: 'This decision harms the interests of tens of millions of people.'
It is worth noting that earlier in June, Apple also removed the Russian messaging app Max from the App Store without prior notice.
This action by Apple is part of a broader trend among Western technology companies adjusting their policies in response to international sanctions and shifting geopolitical dynamics. At the same time, the sharp decline in VK shares highlights severe financial repercussions for the company, which could influence its future strategic direction. The Kremlin’s reaction underscores the growing emphasis on technological sovereignty amid contemporary challenges, potentially accelerating the shift toward alternative platforms and homegrown solutions.