US Lifts Ban On ZTE
In April, the department banned U.S. companies selling parts and software to ZTE after the company illegally sent equipment to Iran and North Korea.
The U.S. Department of Commerce has lifted a ban on export sales to Chinese tech company ZTE, allowing the company to operate again.
In April, the department leveled a ban on U.S. companies selling parts and software to ZTE after the company illegally sent equipment to Iran and North Korea.
ZTE had to meet a number of demands from the department in order to lift the ban: the company had to replace its entire board of directors, pay a $1 billion fine and put up an additional $400 million in escrow. That money will stay in escrow for 10 years, during which U.S. inspectors will have full access to ZTE sites.
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