By Supantha Mukherjee
Cisco joined U.S. sportswear maker Nike which also said on Thursday it was making a full exit from Russia, alongside others with have previously announced plans to leave, ranging from U.S. chain McDonald’s to French carmaker Renault.
Foreign companies seeking to exit Russia because of Moscow’s invasion of Ukraine face the prospect of new laws being passed in coming weeks allowing Moscow to seize assets and impose criminal penalties. That has encouraged some businesses to accelerate their departure plans.
(Reporting by Supantha Mukherjee; Editing by Matt Scuffham, Ken Li and John Stonestreet)