[Dan]

April 5, 2023, 09:09 - CISCO
The American transnational company that develops and sells network equipment Cisco Systems disposed of its inventories in Russia in the amount of 1.86 billion rubles. It is reported by TASS.

This decision was made back in August last year due to the termination of sales, the suspension of licenses and services of Cisco in Russia, as well as the impossibility of re-export.

Inventory refers mainly to operational spare parts for equipment purchased under an agreement with the Dutch structure - Cisco Systems International BV

In addition, the main property of the Russian division was disposed of, including vehicles, office furniture, machinery and demonstration equipment.

The provision for impairment of inventories in full amount – RUB 1.864 billion – was accrued as of December 31, 2022.

Earlier it was reported that the logistics service PickPoint stops working in the Russian Federation due to financial difficulties.