Image by Tywak via Flickr

Since July, Google, Inc has been planning the purchase of Zao Begun, a search and contextual video and text advertising business, owned by Russian based Rambler Media.

“We are very disappointed to hear that FAS has come to this decision,” said Google in a statement. “We strongly believe that this acquisition will enable us to significantly improve opportunities for Russian users,advertisers, and publishers, as well as the entire industry.”

Zao Begun currently has a network with 40,000 advertisers covering 143,000 Russian language Web sites.

In related news, the U.S. Department of Justice is currentlyinvestigating a deal made by Google and Yahoo that would allowYahoo to show Google search ads. This program had been slated to start this month, but has been delayed pending the DOJ review.