Effective March 31 the company transferred its live games business in Russia and Belarus to local management of Lesta Studio that is no longer affiliated with Wargaming. The company will not profit from this process either today or going forward. Much to the contrary we expect to suffer substantial losses as a direct result of this decision.

We will be completing the operational transition with all due speed while remaining in full compliance with all laws and ensuring the ongoing safety and support of our employees. During the transition period the live products will remain available in Russia and Belarus and will be operated by the new owner.

Wargaming has also started the process of closing its studio in Minsk, Belarus.

We will be providing as much severance and support as possible to our employees affected by the change.

Despite the magnitude of this decision, we as a company are confident in the future of our business and are committed to delivering quality games to our players.