Commerce Dept. Extends ZTE Sanction Relief Again
ZTE can continue to export U.S. goods for another month due to an extension offered by the U.S. Department of Commerce. The Commerce Department first alleged in March 2016 that ZTE had violated trade sanctions in place against Iran by using shell companies to hide its exporting activities. The government initially banned ZTE from exporting any U.S. goods, parts, or components, but quickly offered a reprieve while ZTE worked with the government to resolve the issue. The initial reprieve gave ZTE until the end of June 2016, but was then extended to the end of August 2016, and then again to Feb 27 of this year. Now the extension runs through March 29. In prior actions, the Department of Commerce extended the relief by 90 days at a time. Reuters suggests the short, 30-day extension indicates a full settlement may be adopted in the near future.
Apr 16, 2018
ZTE is not allowed to export sensitive technology from the U.S. due to new action from the U.S.
Mar 7, 2017
ZTE today said it has agreed to pay the U.S. government significant financial penalties for exporting technology to Iran in violation of sanctions against the country.
Nov 28, 2018
ZTE has fallen into the U.S. government's crosshairs once again, this time thanks to its involvement with Venezuela.
Nov 18, 2016
ZTE can continue to export U.S. goods for another three months due to an extension offered by the U.S.