“Barron's Roundtable” panelists Jack Huff, Al Root and Megan Leonhart discuss this week's top three headlines.
A Russian court has reportedly slapped a $2 billion fine on Menlo Park, California-based Google for blocking content on YouTube, with penalties increasing daily for nonpayment.
Russian state news agency TASS reported that Google owes the Russian government the equivalent of $2 billion, or 34 digits.
The global economy is estimated to be worth $110 trillion, which is a 15-digit number.
“Google has been charged by a Russian court with administrative liability under Article 13.41 of the Administrative Offenses Law for deleting channels on the YouTube platform,” lawyer Ivan Morozov told TASS. “The court ordered the company to restore these channels.”
Justice Department considers breaking up Google after internet search monopoly ruling
File photo: The Google logo is seen on the Google House at the annual consumer electronics trade show CES 2024 in Las Vegas, Nevada, USA on January 10, 2024. Reuters/Steve Marcus/File Photo/File Photo (Reuters/Steve Markus/File Photo/File Photo/Reuters Photo)
Morozov said the ruling stipulates that if Google does not pay the fine within nine months, the fine will double every day without limit, the news agency said.
The ruling also stipulates that Google will only be allowed to return to Russia if it complies with the court's decision.
Google did not immediately respond to a request for comment from FOX Business.
YouTube blocks Russian parliament channel, angering officials
A photo taken on February 1, 2022 shows the Kremlin's Vodovzvodnaya Tower (left) and the Russian Foreign Ministry building (right) in Moscow. ((Photo Credit: NATALIA KOLESNIKOVA/AFP via Getty Images)/Getty Images)
On Thursday, the Kremlin said Google should lift its block on Russian TV channels broadcast on YouTube, Reuters reported.
In March 2022, Google stopped serving ads to users in Russia and suspended monetization of content it deemed exploiting, dismissing, or condoning Russia's war in Ukraine.
Since 2022, Google has blocked more than 1,000 YouTube channels and 5.5 million videos, including state-run news.
Federal judge rules that Google violates antitrust laws
This illustrated photo shows the YouTube logo on a mobile phone screen with the Google logo in the background. (Photo illustration: Idrees Abbas/SOPA Images/LightRocket, Getty Images / Getty Images)
Kremlin spokesman Dmitry Peskov told reporters that he could not say for sure, saying the huge sum was symbolic.
“These requests only demonstrate the essence of our channel's claims against Google,” Peskov said. “Google shouldn't be restricting what broadcasters do, and Google is doing that.
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“Perhaps this (growing huge legal claims) should be a reason for Google's management to pay attention and rectify the situation,” Peskov added. “That's the best thing we can do as a company.”
Reuters contributed to this report.
