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- 1 The Russian government sees Meta Platforms as a “terrorist and extremist” organization.
- 2 Facebook and Instagram collectively had 100 Million users from Russia by January 2022.
Press secretary of the metaverse company Meta Platforms (formerly Facebook), Andy Stone, is stamped ‘wanted’ by Russia according to TASS, a Russian state-owned news agency. The reason for the act remains unclear but the ministry database says the person “is wanted under an article of the Criminal Code of the Russian Federation.”
Russia Once Was a Flourishing Market for Meta Platforms
The Russian government sees the metaverse company as a “terrorist and extremist” organization. This, according to news website POLITICO, “opened the door to heavier legal proceedings against its users in the country.” Social media platforms like X, Facebook, and Instagram are banned in the country and are accessible through virtual private networks (VPNs) only.
Meta’s growth in the Russian region appears stagnant as of now. The Russian metaverse market is estimated to generate $675 Million this year, which accounts for only a fraction of the global metaverse market. Additionally, the market is likely to generate revenue close to $7 Billion, Meta is unlikely to become part of it.
Russia banned Meta Platforms after the company reportedly allowed users to call for violence against the Russian military amid the ongoing conflict between them and Ukraine. Russia’s Prosecutor General’s office asked to ban access to Meta’s family of apps following the incident after a short time. However, WhatsApp was allowed to operate as it did not fall under the social media category but Messenger did.
Facebook and Instagram collectively had 100 Million users from Russia by January 2022. They prefer to use domestic social networks including VK (Vkontakte) and Ok.ru (Odnoklassniki). Following the war’s announcement, the company banned pages of Russian state-owned media RT and Sputnik in the European Union (EU) and United Kingdom (UK) regions.
After 642 days of Russia’s invasion of Ukraine, the death toll for the former had reached 324,830 according to the Ukrainian military. In a recent drone attack by Russia, Ukraine claims to have downed almost all of them. Ukrainian President Volodymyr Zelensky raised concerns over the security of grain export routes amid the ongoing war.
The war is not likely to end soon. Military experts believe it may stretch longer, putting pressure on Ukraine for more years.
“By the end of this year, both sides will think they still have more to gain by fighting.” A retired UK commander Gen. Richard Barrons told CNBC in August. “Russia cannot give up, it can’t lose, because of the desperate consequences for the Russian regime, and Ukraine has not run out of the will to fight and isn’t prepared to give up the territory that’s been occupied, it just wants more help to take it back. And that will take us into 2024 and possibly into 2025,”
Chatham House’s James Nixey believes no one is winning the war. He says, “Nobody is winning this war currently and that both sides have strengths and weaknesses. Ukraine has superior numbers, better resolve and morale, and international backing, while Russia has superior weaponry and superior stores of ammunition.”
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
