July 15, 2024

ZTE is allowed to continue operating – these are the penalties

ZTE is allowed to continue operating – these are the penalties

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.

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