02:38 PM EDT, 08/12/2024 (MT Newswires) -- (Updates to add Google's ( GOOG ) comment in the second paragraph and the latest stock movement in the fifth paragraph.)

Alphabet's (GOOG, GOOGL) Google ( GOOG ) will deactivate Russia-based AdSense accounts this month due to its inability to make payments amid ongoing developments in the country, a Google ( GOOG ) spokesperson told MT Newswires on Monday.

"Due to ongoing developments in Russia, we will no longer be able to make payments to Russia-based AdSense accounts that have been able to continue monetizing traffic outside of Russia. As a result, we will be deactivating these accounts effective August 2024," a Google ( GOOG ) spokesperson said.

Google ( GOOG ) did not say what developments led to the decision.

Payments for July earnings will be processed between Aug. 21 and Aug. 26 for affected accounts, Reuters reported.

Alphabet shares were down 0.6% in recent trading.

Price: 164.43, Change: -0.96, Percent Change: -0.58