Apple fined $17M by Russian regulatory agency over market share abuse
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Apple (NASDAQ:AAPL) has been fined $17.4M by Russia's monopoly regulatory agency over what it called an abuse of a dominant market position.
Russia's Federal Antimonopoly Service, or FAS, said that Apple (AAPL) forced Russian developers to use its payment services on its App Store.

FAS said Apple (AAPL) has to pay the fine within two months, Reuters reported.
The fine comes several months after a Russian court said it was lawful for FAS to go after the tech giant over issues with its App Store.
In October, Apple (AAPL) restored some Russian apps to its App Store, shortly after it removed them for sanction violations.
Apple (AAPL) pulled out of Russia in March 2022, ceasing online sales and product exports as a result of the country's invasion of Ukraine.
Apple (AAPL) shares were up nearly 1% in premarket trading on Wednesday.
Separately on Wednesday, investment firm Canaccord Genuity lowered its estimates on Apple (AAPL), citing worries over slowing consumer spending hitting the iPhone, iPad and Mac.