Microsoft's Russian subsidiary will file for bankruptcy

According to a document released on Friday at the official registry of resources in the Russian Federation, a subsidiary of Microsoft (MSFT. O) in Russia plans to file for bankruptcy. Russian President Putin stated this week that foreign service providers such as Microsoft and Zoom should be "restricted" from doing business in Russia to make way for domestic software solutions. After the conflict between Russia-Ukraine conflict, Microsoft still continued to provide key services in Russia. However, in June 2022, the company said that due to changes in the economic outlook and the impact on its business in Russia, it would significantly reduce its scale of operations in Russia. The Federal Resource Registry released a document on Friday stating that Microsoft Rus LLC intends to declare bankruptcy.