US firms Cisco Systems and Nike told Reuters on Thursday they planned to pull out of Russia entirely as Western firms accelerated their withdrawal. The company said that Telecom equipment maker Cisco Systems would close its operations in Russia and Belarus. The sportswear maker said Nike would fully withdraw from Russia after suspending operations for three months.

Foreign companies seeking to pull out of Russia in the Ukraine war face the prospect of passing a new law in the coming weeks that would allow Moscow to seize assets and impose criminal penalties. This has encouraged some businesses to leave early.

In March, Cisco suspended business operations in Russia, including sales and services. Earlier this month, Cisco’s rival International Business Machines Corp. began shutting down its operations in Russia, and Microsoft said it would cut its operations there.

The exit of top tech companies such as Cisco, IBM and Microsoft has restricted Russian businesses and households’ access to critical equipment. They may now have to rely on older equipment and domestic alternatives.
It said that Cisco had offered relocation options for hundreds of its employees in those countries. The company did not disclose the countries where employees were offered alternate locations.