U.S. companies Cisco Systems (CSCO.O) and Nike (NKE.N) plan to fully exit Russia. Cisco will wind down its business in Russia and Belarus, the company said. Nike is making a full exit from Russia three months after suspending its operations there.

Foreign companies seeking to exit Russia over the war in Ukraine face the prospect of a new law being passed in the coming weeks. The law would allow Moscow to seize assets and impose criminal penalties. read more at: exit Russia-face-new-law-being-passed.

Cisco suspended business operations, including sales and services, in Russia in March. "We have now made the decision to begin an orderly wind-down of our business in Russia and Belarus," it said in an emailed statement. Earlier this month, Cisco's rival International Business Machines Corp (IBM) began winding down its business.

Cisco has offered relocation options to its few hundred employees in those countries. Nike said on March 3 it would temporarily suspend operations at all its Nike-owned and operated stores in Russia. "This presents opportunities for domestic firms in some markets but even more for brands from China and elsewhere to make inroads," he said.
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