Two Canadian firms sanctioned for support to Russia

The US’s list of latest sanctioned entities for allegedly supporting Russia during its war in Ukraine includes two Canadian firms, Cpunto Inc. and Electronic Network Inc., U.S. and Canadian officials reported on Monday.

The two electronics distribution companies from Montreal city were listed for acting contrary to the national security or foreign policy interests of the U.S., and for that, they are subject to U.S. export restrictions, the U.S. Commerce Department stated.

The U.S. government called on companies on Thursday to ensure they comply with the Russian sanctions, warning them that they could be potentially prosecuted or faced with enforcement actions if failed to abide.

The two sanctioned companies were identified as part of a global effort to support Russia, said the Canada Border Services Agency. The Canadian Agency also mentioned working with the U.S. Bureau of Industry and Security to impose restrictions on Russia’s access to technologies.

“The firm took the issue seriously as we have always been acting in good faith without intention to defraud, deceive or in any way act maliciously,” stated Alexander Yermukov, director at Cpunto to CBC News.

The Commerce Department imposed export restrictions on 90 Russian and third-country companies, and banned them from buying items like semiconductors.