American networking equipment and software manufacturer Cisco said on Tuesday that it had decided to terminate the operation of its Russian legal entity, Cisco Systems LLC
MOSCOW (Pakistan Point News / Sputnik - 20th June, 2023) American networking equipment and software manufacturer Cisco said on Tuesday that it had decided to terminate the operation of its Russian legal entity, Cisco Systems LLC.
"Cisco Systems Limited Liability Company... notifies that the Extraordinary General Meeting of members of Cisco Systems LLC... made a decision on the liquidation of Cisco Systems LLC and the appointment of a liquidator. Creditors' claims may be filed within 2 (two) months from the date of publication of the liquidation notice in the "Bulletin of State Registration" journal, the company said in a statement published on the Fedresurs federal registry of subjects of economic activity.
The company still has one more Russian legal entity, Cisco Solutions LLC, Fedresurs indicates.
In June 2022, Cisco started withdrawing from the Russian and Belarusian markets due to Moscow's special military operation in Ukraine. At the same time, the company announced its plans to remain in touch with its customers, partners and vendors to settle financial matters, including refunding prepaid service and software arrangements.
After Russia launched its special military operation in Ukraine on February 24, the domestic IT industry faced a number of challenges. Most of the major Western vendors exited the Russian market. Among the manufacturers of telecommunications equipment and software that left the Russian market were Cisco, SAP, Oracle, IBM, Nokia and Ericsson. Major technology manufacturers Samsung and Apple also suspended deliveries of their products to Russia last March.
