The Margin: Cisco gear is being shipped into Russia from China and other countries, leaked customs database shows

by | Oct 17, 2022 | Stock Market

A purportedly leaked Russian customs database shows around 500 shipments of Cisco gear arriving in Russia in August, months after the networking giant halted its business operations in that country. Information extracted from the database and shared with MarketWatch appears to show that Cisco Systems Inc.
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products entered Russia from a number of countries, with the majority of shipments coming from China. Other countries of origin include Vietnam, Switzerland, Mexico, Malaysia, Australia, Thailand and Holland, as well as the U.S., according to the data.

In the wake of Russia’s invasion of Ukraine in February, a host of major U.S. corporations, including Cisco, ended their Russian operations. On March 3, Cisco announced that it was halting all business operations in Russia as well as Belarus “for the foreseeable future.” In a subsequent statement, released on June 23, Cisco announced its decision to begin “an orderly wind-down” of its business in those two countries. Read: PepsiCo and other U.S. companies accused of ‘moralwashing’ in statements about Russia The leaked database appears to show almost 500 shipments of Cisco products coming into Russia in August, ranging in value from less than $100 to tens of thousands of dollars. A representative of the Economic Security Council of Ukraine told MarketWatch that the organization was shocked when it saw the shipments detailed in the database. “We were not expecting this type of outcome,” the representative said. “On March 3, 2022, Cisco announced stopping all business operations in Russia and Belarus, including sales and services,” a Cisco spokesperson told MarketWatch via email. “This included discontinuing business with all Cisco partners and distributors in Russia and Belarus, which means they can no longer source products via authorized channels. “On June 23, we announced the decision to begin an orderly wind-down of our busine …

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