IT and networks solutions provider Cisco followed other western firms in exiting Russia and Belarus in the wake of the invasion of Ukraine.
Reuters reported, companies operating in Russia face the prospect of a new law being passed in the coming weeks which allows the government to seize assets and impose criminal penalties, pushing some to accelerate their exit.
Cisco suspended its operations in Russia in March, the invasion began on February 24. The company said in a statement to Reuters: "We have now made the decision to begin an orderly wind-down of our business in Russia and Belarus”.
Cisco rivals IBM and Microsoft began winding down operations or made substantial cuts in their Russian businesses.