Cisco destroyed spare parts for equipment in Russia for 1.9 billion rubles

The manufacturer of network equipment and software products Cisco Systems “physically destroyed” its inventories in Russia in the amount of 1.86 billion rubles. This was done due to the termination of sales of the company’s products in the Russian Federation.

In particular, the company destroyed operational spare parts for equipment that were purchased under an agreement with the Dutch structure – Cisco Systems International BV

“The company made the decision to dispose back in August 2022 due to the termination of sales, the suspension of licenses and Cisco services in Russia. The decision was also influenced by the impossibility of re-export. Subsequently, IT equipment and demo samples will be recycled,” reports TASS with reference to the reporting of one of the Russian legal entities of Cisco — Cisco systems (subsidiary of the American Cisco Systems Inc.).

In addition to spare parts, property of the Russian division of Cisco was destroyed for 1 million rubles, including vehicles, office furniture, appliances and demonstration equipment. After the termination of most employment contracts in July-August 2022, employees were paid about 190.6 million rubles, follows from the company’s financial statements.

In March last year, against the backdrop of the start of a military operation in Ukraine, Cisco Systems stopped all business processes in Russia, including sales and service. In June, she announced her intention to completely withdraw from the Russian and Belarusian markets. At the same time, the company promised that they would financially support employees until the final departure from both countries.

Read more about the consequences of the company’s departure from the Russian market – in the material “Kommersant FM” “Cisco stacks hardware”.

Alexander Kislov