Chinese firm agrees to settlement for Iran, North Korea sanctions breaches | NK News
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November 24, 2024
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Chinese firm agrees to settlement for Iran, North Korea sanctions breaches

Firm made 283 shipments of controlled technology to North Korea

A Chinese telecommunication firm has agreed to pay a combined civil settlement of 1.19 billion USD to multiple U.S. government agencies for its participation in the trade of controlled goods with Iran and North Korea, the U.S. government announced on Tuesday.

The firm, Zhongxing Telecommunications Equipment Corporation (ZTE), reached the record settlement with the Department of Commerce's Bureau of Industry Security (BIS), the Department of Treasury’s Office of Foreign Assets Control (OFAC) and the Department of Justice (DOJ).

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