Cisco to wind down business in Russia, Belarus

MOSCOW. June 23 (Interfax) - Cisco Systems Inc. has decided to wind down business in Russia and Belarus, the company said.

Cisco suspended all business in the two countries in March due to the events in Ukraine.

The company will support employees working in Russia and Belarus and plans to work with customers and partners to resolve certain financial issues.

Cisco said the suspension of business in Russia and Belarus had cost it $200 million or 1.6% of its revenue in Q3 of the financial year.