Washington – ZTE Corporation has agreed to pay more than one-billion-dollars US in criminal and civil penalties for violating US sanctions against Iran. US Secretary of Commerce Wilbur Ross made the announcement on Tuesday.
The US Justice Department says ZTE illegally shipped sensitive US-made equipment to Iran.
According to court documents, ZTE obtained the banned goods over a six-year period and shipped them to customers in Iran, knowing that the sales violated the sanctions.
The Chinese cellphone equipment maker will admit liability and make an initial payment of $892 million.
The Associated Press