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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Breaking News

Breaking News

US sanctions against two Canadian companies for allegedly supporting Russia

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On Monday, the United States and Canada sanctioned two Canadian corporations for alleged assistance in Russia’s war campaign in Ukraine.

According to the U.S. Commerce Department, Montreal electronics distributors Cpunto Inc. and Electronic Network Inc. was listed for “acting detrimental to the national security or foreign policy interests of the United States” and are subject to export restrictions.

On Thursday, the U.S. government warned corporations to comply with Russia-related sanctions imposed after Moscow invaded Ukraine or face prosecution or enforcement.

The Commerce Department banned roughly 90 Russian and third-country entities from buying semiconductors.

The Canadian Border Services Agency told CBC News Monday that the two sanctioned companies were part of a “global effort” to promote Russia. The agency did not immediately comment.

The Commerce Department list did not specify what the two corporations delivered or attempted to ship that prompted U.S. action.

“We take this situation extremely seriously,” Cpunto director Alexander Yermukov told CBC News. He stated that the corporation would address the concerns but could not provide details.


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