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Cisco destroys spare equipment parts in Russia worth $23.34 mln

Cisco Systems Inc. made a decision to stop all sales in Russia in March 2022, and in June of the same year to close its operations and leave the Russian market

© Tada Images/Shutterstock/FOTODOM

MOSCOW, April 5. /TASS/. Cisco Systems, manufacturer of network equipment and software products, "physically destroyed" its inventories in Russia totaling 1.86 bln rubles ($23.34 mln) due to the termination of sales in January 2023. According to Cisco Systems' financial statements, these are primarily spare parts, but other property, including IT equipment, will also be destroyed.

The decision was made in August 2022 due to, in addition to the termination of sales, the suspension of Cisco licenses and services in Russia, and the impossibility of re-export.

Cisco Systems was originally involved in the maintenance of equipment in Russia. At the same time, Cisco has a second legal entity in the Russian Federation - Cisco Solutions - through which it distributed electronic and telecommunications equipment. There is no data on what happened to the property of this organization.

Cisco Systems Inc. made a decision to stop all sales in Russia in March 2022, and in June of the same year to close its operations and leave the Russian market.

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