Unrest In Russia Leads To Business Halt In California

By: AP Email
By: AP Email

SAN MATEO, Calif. (AP) - Entrepreneurs and investors say Silicon Valley's fast growing financial ties with Russia's tech sector are being slowed down by current political tensions between the White House and the Kremlin.

Alexandra Johnson, who manages a $100 million Russian venture fund from the Silicon Valley, says a lot of investors are taking a step back to see how the situation will unfold.

Johnson organized a technology symposium involving Russian investors and startups last month in San Mateo, Calif.

A flurry of investment in recent years was largely sparked in 2010 when then-Russian President Dmitry Medvedev sat down with high tech leaders in California.

But Silicon Valley players fear negative economic fallout from Russia's takeover of Crimea and its troop buildup near Ukraine's border, markedly raising political tensions with the West.

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