ZTE ordered to pay $1.2B for evading embargo
The Chinese telecom company illegally sold hardware and software to North Korea and Iran. In a statement, its chief said ZTE ‘remains committed to positive changes.’
The company conspired to “evade” America’s embargo against Iran from 2010-2016, according to the U.S. Department of Commerce.
ZTE sold hardware and software that was made in the U.S. to supply telecom infrastructure in Iran. It also made nearly 300 shipments to North Korea in that timeframe. The company recently pled guilty, and was ordered to pay $1.2 billion dollars—”the largest criminal fine in a U.S. sanctions case to date,” The Verge reported.
Commerce secretary Wilbur Ross had this to say in a statement:
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