Kaspersky Labs Announces Departure from US Market Following Ban

Money | July 16, 2024, 2:14 a.m.

Russian cybersecurity firm Kaspersky Labs has made the difficult decision to leave the US market following a ban by the Biden administration on sales and distribution of its software due to concerns over Moscow's influence and potential risks to US infrastructure. Despite operating in the US for two decades, Kaspersky denied the allegations and expressed disappointment in having to wind down its US operations by July 2024. The Commerce Department stated that Kaspersky will no longer be able to sell software in the US, with restrictions on updates and new business transactions in place. The ban, enacted under broad powers created by the Trump administration, aims to prevent transactions between US firms and technology companies from "foreign adversary" nations like Russia and China. Kaspersky, with offices in 31 countries and millions of users worldwide, intends to challenge the ban while asserting its commitment to cybersecurity.