China's Didi Makes An About-Face, Will Stay In Russia

Chinese ride-hailing giant Didi Global said on Saturday that it would continue to operate in Russia, reversing a decision announced on Monday that it was leaving that country as well as Kazakhstan, Tony Munroe, and Brenda Goh reported for Reuters.

Photo Insert: Didi had initially announced that it was leaving Russia and Kazakhstan.

On Monday, Didi said it was leaving Russia on March 4, about a year and a half after launching services there. It has been in Kazakhstan for about a year.

"Unfortunately, due to changing market conditions and other challenges, it has become clear at the moment we will not be able to provide the best results in Russia and Kazakhstan," it said on Monday.

Neither statement mentioned geopolitical factors in the decision, but some critics online said the timing of the move opened Didi to accusations of succumbing to US pressure on Russia, which invaded neighboring Ukraine on Thursday. Saturday's statement did not mention Kazakhstan.

The Chinese government might also have pressured Didi to stay in Russia since moving out would further isolate the invaders.

The Chinese government has called for dialogue on Ukraine but has refrained from condemning Russia's attack or calling it an invasion. It also abstained on a UN Security Council vote condemning the invasion.

Russia vetoed the resolution. Didi has had a turbulent time since it went public last summer in New York. Under pressure from Chinese regulators concerned about data security, Didi in December said it will delist from the NYSE and pursue a Hong Kong listing.

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