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ZTE is officially alive again, as US lifts 'death-penalty' ban

ZTE is officially alive again, as US lifts 'death-penalty' ban

5 years ago
Anonymous $TjsaxHwAP-

https://www.cnet.com/news/zte-is-officially-alive-again-as-us-lifts-death-penalty-ban/

ZTE is finally, officially free of the crippling US ban that threatened to sink the entire Chinese telecom company. It's been a long, painstaking process, but the US Department of Commerce announced Friday that the company has deposited the final $400 million in an escrow account -- and so the ban is lifted.

That $400 million is just the last item ZTE had to provide to satisfy the US government -- the company's paying a total of $1.4 billion this time around, on top of $892 million in penalties from a separate March 2017 agreement with the US government.