The manufacturer of network equipment and software products Cisco Systems destroyed inventories in Russia in the amount of 1.86 billion rubles.
This was announced by the company in its financial statements. Decision to use as early as August 2022 due to termination of sales and suspension of Cisco licenses and services in Russia. Also to solve the problem of impossibility of re-export.
Inventories were physically liquidated in January 2023, in connection with which, as of December 31, 2022, a provision for impairment in value was accrued in the full amount of the cost of inventories – 1,864,002 thousand rubles.
– excerpt from document
Inventories include operational spare parts purchased under an agreement with the Dutch company Cisco Systems International BV, as well as vehicles, office furniture, equipment and demonstration equipment for a total of RUB 1 million. [РБК]
Source: Iphones RU
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