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

Reuters  |  WASHINGTON 

By Steve Stecklow and Karen FreifeldWASHINGTON (Reuters) - The U.S. 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, U.S. officials told Reuters.The Chinese company pleaded guilty last year 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.As part of the agreement, ...

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First Published: Mon, April 16 2018. 18:34 IST
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