DrChinese telecom company ZTE, hit by sanctions, can resume business in the US with conditions and a fine worth billions. President Donald Trump made the announcement late Friday evening On the Twitter SMS service With ZTE having to pay a fine of $1.3 billion (1.11 billion euros), provide extensive security guarantees and replace its management. ZTE also has to buy spare parts from the United States.
In April, the US government banned ZTE from access to any US technology for seven years. Chips from the US play a central role in the group's networking and smartphone technology. ZTE then shut down large parts of production, and Beijing and Washington began discussions about alternative sanctions.
ZTE is the fourth largest provider of communications network technology. The fine imposed by the company stems from controversial deliveries of telecommunications equipment to Iran and North Korea.
“Alcohol buff. Troublemaker. Introvert. Student. Social media lover. Web ninja. Bacon fan. Reader.”
More Stories
The Trump family’s business in the Balkans: a problem for US foreign policy?
Business – Great Britain: Companies warn of stricter immigration policies
US chains Taco Bell and Krispy Kreme are coming to these German cities