ZTE to have violated Iran sanctions of the United States and illegally exported technology to the country. That’s why the U.S. Department of Commerce has now that the Chinese group needs special permits for transactions with US partners.
The Chinese telecommunications equipment supplier ZTE immediately permits required for doing business with U.S. companies such as Intel and Qualcomm. The U.S. Commerce Department accuses ZTE various front companies illegally continue to have supplied technology to Iran fall under the provisions of have sanctions. That had been directed against Iran’s nuclear program and only recently partially lifted, the New York explains times.
The U.S. newspaper also said that such far-reaching restrictions against such large companies were unusual. The move shows how important is the United States of China’s cooperation in the fight against illicit nuclear programs.
Still, it is unclear what effects will have restrictions against ZTE, writes the newspaper. It also depends on how will interpret the decision in two States. They could at least become a problem for the Chinese group, because even if he sells its own technology – how about smartphones -, he obstructed U.S. components, for example, by Qualcomm. 10 to 15 percent of the components installed by ZTE, were affected, the financial times quoted an analyst’s assessment.
Stock trading taken
ZTE itself has already assured everywhere to observe the applicable laws and to work on a solution. The shares of the company were taken on Monday without further explanation from trading on the stock exchanges in Hong Kong and Shenzhen.
China’s Ministry of Commerce said the step of the United States will affect Chinese companies, so the New York Times. The restrictions could encourage Chinese enterprises to develop themselves alternatives to US products speculated, however, an analyst from the Washington Post.