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US bans American companies from selling to China’s ZTE

April 16, 2018 12:42 PM
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The company logo of ZTE is seen through a wooden fence on a glass door during the company's 15th anniversary celebration in Beijing in this picture released March 21, 2016. — Reuters picWASHINGTON, April 16 — The US Department of Commerce is banning American companies from selling components to Chinese telecom equipment maker ZTE Corp for seven years for violating the terms of a sanctions violation case, US officials told Reuters.

The Chinese company pleaded guilty last year in federal court in Texas for conspiring to violate US sanctions by illegally shipping US goods and technology to Iran. It paid US$890 million in fines and penalties, with an additional penalty of US$300 million that could be imposed.

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Source: themalaymailonline.com

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