The Chinese telecom equipment maker ZTE Corp is getting banned for seven years for violating the terms of a sanctions violation case. The U.S. Department of Commerce is banning American companies from selling components.
ZTE pleaded guilty in 2017 in federal court in Texas for conspiring to violate U.S. sanctions by illegally shipping U.S. goods and technology to Iran. It paid $890 million in fines and penalties, with an additional penalty of $300 million that could be imposed.
ZTE Corp had earlier promised to dismiss four senior employees and discipline 35 others by either reducing their bonuses or reprimanding them, senior Commerce Department officials told Reuters. But the Chinese company admitted in March that while it had fired the four senior employees, it had not disciplined or reduced bonuses to the 35 others.
Also, UK’s main cyber security agency said on Monday it had written to organisations in the UK's telecommunications sector warning them about using services or equipment from Chinese telecom equipment maker ZTE Corp .
Source: http://cablequest.org/index.php/news/international-news/item/12777-u-s-bans-its-firms-from-selling-to-china-s-zte-uk-on-the-same-page
ZTE Corp had earlier promised to dismiss four senior employees and discipline 35 others by either reducing their bonuses or reprimanding them, senior Commerce Department officials told Reuters. But the Chinese company admitted in March that while it had fired the four senior employees, it had not disciplined or reduced bonuses to the 35 others.
Also, UK’s main cyber security agency said on Monday it had written to organisations in the UK's telecommunications sector warning them about using services or equipment from Chinese telecom equipment maker ZTE Corp .
Source: http://cablequest.org/index.php/news/international-news/item/12777-u-s-bans-its-firms-from-selling-to-china-s-zte-uk-on-the-same-page
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