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Russia Fines Apple and Zoom for Alleged Data Storage Violation

In this Saturday, March 14, 2020, file photo, an Apple logo adorns the facade of the downtown Brooklyn Apple store in New York. (AP)
In this Saturday, March 14, 2020, file photo, an Apple logo adorns the facade of the downtown Brooklyn Apple store in New York. (AP)
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Russia Fines Apple and Zoom for Alleged Data Storage Violation

In this Saturday, March 14, 2020, file photo, an Apple logo adorns the facade of the downtown Brooklyn Apple store in New York. (AP)
In this Saturday, March 14, 2020, file photo, an Apple logo adorns the facade of the downtown Brooklyn Apple store in New York. (AP)

US tech giant Apple and Zoom Video Communications were fined on Tuesday for allegedly refusing to store the data of Russian citizens on Russian territory.

Moscow has clashed with Big Tech over content, censorship, data and local representation in a simmering dispute that has erupted into a full-on battle since Russia sent its armed forces into Ukraine on Feb. 24.

Apple was fined 2 million roubles ($34,000), the court in Moscow's Tagansky district said, with Zoom and Ookla, which runs the internet performance tool Speedtest, fined 1 million roubles each.

Alphabet's Google was ordered to pay 60,000 roubles for a different offence relating to data.

Apple, Zoom, Ookla and Google did not immediately respond to requests for comment.

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EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
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EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo

The European Investment Bank is likely to announce on Friday plans to pump 70 billion euros into the development of European technology firms over the next three years, EU officials said.

The program, called Tech EU, is meant to help Europe compete with China and the United States in the race for innovative clean and digital technologies.

The EIB, the biggest multilateral lender in the world with a balance sheet total of 556 billion euros, expects its own 70 bln euros to mobilize a further 250 billion euros of private cash as investors crowd into projects supported by the EIB, Reuters quoted EU officials as saying.

The 70 billion is to be split into 20 billion euros for equity and quasi-equity, 40 billion euros for loans and 10 billion for guarantees in 2025-2027, the officials said.

The plan is to complement European Commission efforts to support higher risk ventures and innovative companies throughout their investment journey, from proof of concept to an initial public offering.

The EIB wants to focus on supercomputing, artificial intelligence, digital infrastructure, critical raw materials, green industries such as offshore wind, health, security and defense technologies, robotics and advanced materials, the officials said.