Kaspersky announces US market exit

Major security software provider Kaspersky has disclosed plans to gradually cease its U.S. operations beginning July 20, nearly a month after the U.S. Department of Commerce prohibited the sales and import of Kaspersky-branded software and white label products with the firm's software due to its links with Russia, SiliconAngle reports.

Such end of U.S. operations, which comes after the company initially announced willingness to enter a court battle arguing the ruling, would also involve layoffs of fewer than 50 employees, according to Kaspersky. "The company has carefully examined and evaluated the impact of the U.S. legal requirements and made this sad and difficult decision as business opportunities in the country are no longer viable," said Kaspersky. U.S. Secretary of Commerce Gina Raimondo justified the sales ban on Kaspersky due to national security risks associated with Russian influence. "Russia has shown time and again [that] they have the capability and intent to exploit Russian companies, like Kaspersky Lab, to collect and weaponize sensitive U.S. information, and we will continue to use every tool at our disposal to safeguard U.S. national security and the American people," said Raimondo.