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Cisco to wind down business in Russia, Belarus


Cisco to wind down business in Russia, Belarus

Telecoms equipment maker Cisco will wind down its business in Russia and Belarus, the corporate advised Reuters on Thursday, because the tempo of Western firms departing accelerates.

The U.S. firm stopped enterprise operations, together with gross sales and providers, within the area in March.

Cisco joined U.S. sportswear maker Nike which additionally mentioned on Thursday it was making a full exit from Russia, alongside others with have beforehand introduced plans to go away, starting from U.S. chain McDonald’s to French carmaker Renault.

Overseas firms in search of to exit Russia due to Moscow’s invasion of Ukraine face the prospect of latest legal guidelines being handed in coming weeks permitting Moscow to grab property and impose felony penalties. That has inspired some companies to speed up their departure plans.

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