Ever since Russia’s invasion of Ukraine, many companies have been doing their best to show their support of the latter. In this scenario Facebook has also played its part by blocking ads in Russia.
The chief financial officer (CFO) of Facebook recently stated that this whole situation of Russia-Ukraine conflict will turn out to be harmful for Facebook’s business and the revenue that they are currently earning with the danger of bringing it down. David Wehner who is the CFO of the app stated that the decision that Facebook made to stop ads from and in Russia will have a negative impact on the revenue of Facebook in the latter half of 2022 as 1.5% of the income Facebook generates from ads comes from Russia and was totaled at 114.9 billion dollars just the previous year. So the overall impact of these decisions will be roughly 1.7 billion dollars.
He also stated that it has also been impacting the advertisement in Europe as well. He said that there are some effects being seen in the advertisement side for which the reason is the Russia-Ukraine war; but whether it is a temporary thing or is it here to stay cannot be said as of now because it is a very sensitive and fragile situation.
This decision was taken when Russia banned Facebook from operating in the country leading to many people using VPN to stay connected. This move was called as a pause or a break due to the difficulties that Facebook is facing while operating in the country. But according to Wehner if Russia takes down the ban then Facebook will have a server operating there just for the convenience of users.
Russia banned Facebook to censor its citizens and cut off all their ties to the outside world including news channels and social media apps. This tactic has been used in the past and is still being used by countries like China in the past and North Korea right now. Many Russian agencies have blocked Twitter and have rebuked social media app TikTok and the global search engine Google. The situation keeps getting worse in both countries.
They have done this in order to keep their citizens away from diverse sources of information from the western media after the invasion and illegal occupation of Ukraine by Russia; also to allegedly stop the misinformation from reaching the outside world.
H/T: Business Insider.
Read next: Climate Scientists Suggest it Might Be Too Late to Prevent a Climate Crisis, But These Steps Might Reduce Its Impact
The chief financial officer (CFO) of Facebook recently stated that this whole situation of Russia-Ukraine conflict will turn out to be harmful for Facebook’s business and the revenue that they are currently earning with the danger of bringing it down. David Wehner who is the CFO of the app stated that the decision that Facebook made to stop ads from and in Russia will have a negative impact on the revenue of Facebook in the latter half of 2022 as 1.5% of the income Facebook generates from ads comes from Russia and was totaled at 114.9 billion dollars just the previous year. So the overall impact of these decisions will be roughly 1.7 billion dollars.
He also stated that it has also been impacting the advertisement in Europe as well. He said that there are some effects being seen in the advertisement side for which the reason is the Russia-Ukraine war; but whether it is a temporary thing or is it here to stay cannot be said as of now because it is a very sensitive and fragile situation.
This decision was taken when Russia banned Facebook from operating in the country leading to many people using VPN to stay connected. This move was called as a pause or a break due to the difficulties that Facebook is facing while operating in the country. But according to Wehner if Russia takes down the ban then Facebook will have a server operating there just for the convenience of users.
Russia banned Facebook to censor its citizens and cut off all their ties to the outside world including news channels and social media apps. This tactic has been used in the past and is still being used by countries like China in the past and North Korea right now. Many Russian agencies have blocked Twitter and have rebuked social media app TikTok and the global search engine Google. The situation keeps getting worse in both countries.
They have done this in order to keep their citizens away from diverse sources of information from the western media after the invasion and illegal occupation of Ukraine by Russia; also to allegedly stop the misinformation from reaching the outside world.
H/T: Business Insider.
Read next: Climate Scientists Suggest it Might Be Too Late to Prevent a Climate Crisis, But These Steps Might Reduce Its Impact