July 15, 2024 at 03:55PM
Kaspersky Lab, a Russian cybersecurity company, will begin shutting down its US operations on July 20, including laying off its US employees, following sanctions from the US Treasury Department and Department of Commerce. The company cited the US legal requirements and business viability as reasons for the decision.
After a thorough review of the meeting notes, the following key points can be generated:
1. Kaspersky Lab, a Russian cybersecurity company and antivirus software provider, will be closing its operations in the United States on July 20, 2024.
2. The closure will result in the layoff of less than 50 U.S.-based employees.
3. The U.S. Treasury Department’s Office of Foreign Assets Control sanctioned twelve Kaspersky Lab executives on June 21, freezing their U.S. assets and preventing access to them until the sanctions are lifted.
4. The Department of Commerce has designated multiple Kaspersky entities to its Entity List, which prevents any U.S. business from conducting business with them.
5. The Bureau of Industry & Security stated that the company’s continued operations in the United States presented a national security risk due to the Russian Government’s offensive cyber capabilities and capacity to influence or direct Kaspersky’s operations.
6. The Department of Commerce’s Bureau of Industry and Security banned Kaspersky from selling its software and delivering antivirus updates, effective September 29, due to potential cybersecurity risks to national security.
7. Kaspersky has confirmed that the decisions made by the Biden administration have made its operations in the U.S. “no longer viable,” leading to the complete shutdown of its business in the country.
These takeaways encapsulate the significant developments and implications of Kaspersky Lab’s decision to exit the United States market.