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Oct 11, 2016

Russia’s Preference for Open-Source to Hurt U.S. Tech Stocks

Posted by in categories: business, government, law

Amid rising political tensions with the U.S., Russia is planning to further lower its usage of licensed software from IT giants like International Business Machines Corp IBM, Microsoft Corporation MSFT, SAP AG SAP and Oracle Corporation ORCL.

Per Bloomberg, “The State Duma, Russia’s lower house of parliament, is drafting a bill to restrict government agencies from buying licensed software, giving preference to open-source software.”

The proposed law is an addition to an already existing federal law that came into effect on Jan 1, 2016, which restricts the use of foreign software in the public sector, if there is a domestic version available.

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