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Exclusive: U.S. bans American companies from selling to China's ZTE

Reuters  |  WASHINGTON 

(Reuters) - The U.S. is banning American companies from selling components to Chinese Corp for seven years for violating the terms of a sanctions violation case, U.S. officials told

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

As part of the agreement, Shenzhen-based Corp promised to dismiss four senior employees and discipline 35 others by either reducing their bonuses or reprimanding them, senior Commerce Department officials told 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.

(Reporting by and Steve Stecklow; Editing by Jeffrey Benkoe)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 16 2018. 18:14 IST
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