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Netherlands-registered Yandex NV has agreed to sell its Russian operations to a consortium of local investors and spin off its main international projects The Kremlin welcomes the $5 billion agreement to sell tech giant Yandex’s Russian business to a consortium of private investors, spokesman Dmitry Peskov said on Monday.

A Swiss-proposed peace conference on the Ukraine conflict will take place on June 15-16, a statement from Bern announced on Thursday. It added that more than 160 delegations from around the world have been invited to take part, although Russian diplomats are not among them.