Cisco after the termination of sales destroyed spare parts in Russia for ₽1.9 billion

After the termination of sales and the suspension of licenses, the American Cisco destroyed spare parts for equipment in RUSSIA for ₽1.9 billion, follows from the reporting. Vehicles were also destroyed.

The manufacturer of network equipment and software products Cisco Systems is a subsidiary of the American company Cisco Systems Inc. - in January of this year, physically destroyed its inventories in Russia in the amount of 1.86 billion rubles. This is stated in the reporting of Cisco Systems, which drew attention to the TASS agency .

The company made the decision to dispose of it back in August last year due to the termination of sales and the suspension of Cisco licenses and services in Russia. The decision was also influenced by the impossibility of re-export, follows from the reporting.

“Inventories were physically destroyed in January 2023, in connection with which, as of December 31, 2022, a reserve for depreciation was accrued in the full amount of the cost of inventories - 1,864,002 thousand rubles. (1.86 billion rubles -) ", - the documents say. Such a provision for impairment of inventories was not created either at the end of 2021 or 2020.

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

American Cisco announced its withdrawal from Russia on June 23. Prior to this, the company announced the suspension of work in Russia and Belarus due to the Russian military operation in Ukraine and began to deactivate the accounts of communication equipment, which were used to update the software of devices.

CNews, citing sources, wrote that Cisco intended to complete all operations to exit the Russian market on July 4. The interlocutor of the publication noted that before the start of the Russian military operation, the company brought "a lot" of equipment to Russia, hoping to sell it, and at that time was actively looking for a way to take it back.

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In October 2022, Izvestia found out that an American developer who had left Russia could resume deliveries to Russia. According to the interlocutors of the publication, the company intends to import products through an intermediary - IBS was named as a distributor. Later, IBS denied negotiations on organizing the import of Cisco equipment and software.

The Ministry of Industry and Trade then said that it was impossible to allow Cisco to return to Russia - the country itself must occupy this niche with domestic solutions. “There will be no going back. Although our respected, in quotation marks, partners are constantly pushing us towards this. Not so long ago, the Americans withdrew telecommunications equipment from sanctions, and today it was reported in the media that Cisco is going to return to our market. The most important thing is that we ourselves understand that this company should not be allowed to easily return to the  same niche that it vacated, ”said Vasily Shpak, deputy HEAD of the Ministry of Industry and Trade.