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WASHINGTON – US authorities allow Chinese company ZTE Corp. to resume some business with US companies, temporarily relaxing part of the ban to buy US technology imposed on the technology giant's exports to Iran and North Korea. This week, ZTE agreed to pay a $ 1 billion fine, replace its management team and hire US compliance officers.
ZTE will be allowed to deal with US companies to maintain existing telecommunications networks and mobile phones. security features, according to the order.
ZTE pled guilty in March 2017 and agreed to pay a $ 1.19 billion penalty for shipping equipment to Iran and North Korea in violation of US regulations. The company promised to discipline the employees involved in the scheme, but the Commerce Department said this week that they were receiving bonuses instead.
The company was paying $ 1.8 billion a year to US suppliers
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