Cisco, Nike quit Russia, as pace of Western firms leaving speeds up - BusinessWorld Online

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Foreign companies seeking to exit Russia over the war in Ukraine face the prospect of a new law being passed in the coming weeks allowing Moscow to seize assets and impose criminal penalties.That has encouraged some businesses to accelerate their departure.

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Foreign companies seeking to exit Russia over the war in Ukraine face the prospect of a new law being passed in the coming weeks allowing Moscow to seize assets and impose criminal penalties. That has encouraged some businesses to accelerate their departure. The withdrawal of top technology firms such as Cisco, IBM and Microsoft limits access to critical equipment for Russian businesses and households. They may now have to depend on older equipment and domestic alternatives.

 

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