Cisco decided to wind down its business in Russia and Belarus. Previously, the company only suspended business operations there

On June 23, network equipment manufacturer Cisco announced that it had decided to wind down its business in Russia and Belarus. In March, the company suspended its business operations there, including sales and services.

Glavnesisso decided to completely withdraw from the market of the Russian Federation and the Republic of Belarus. In March, Cisco suspended its business operations there, including sales and services. "We have now decided to start an orderly rollout of our business," the company said in a statement. The company will support employees working in Russia and Belarus. And he will contact clients to resolve financial issues. In the near future, Russia wants to pass a law that will allow the confiscation of assets, appoint administrators of companies owned by foreigners in "unfriendly" countries and who want to leave Russia. This probably prompted some manufacturers to speed up the exit from hostile markets, Reuters suggests. Details

Cisco has offered several hundred of its employees in Russia and Belarus to move to other locations. However, the company does not disclose which countries were on the list.

Cisco Systems is the world's largest American manufacturer of network equipment. Its products are used for security services, storage networks, routing and switching, and so on.

The withdrawal of leading technology companies such as Cisco, IBM, and Microsoft restricts Russians ' access to critical equipment. Now they will probably have to depend on Old developments and domestic alternatives.