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Chinese Telecom Company Hit with $1.19 B in Fines
On March 7, 2017, the Department of Commerce announced that a major Chinese company, Zhong- xing Telecommunications Equipment Corporation and ZTE Kangxun Telecommunications Ltd. (ZTE), agreed to pay $1.19 billion in civil and criminal penalties in exchange for violating U.S. sanctions and selling U.S.-made products and technology to North Korea and Iran. ZBE's actions violated both the Export Administration Regulations (EAR) and Iranian Transactions and Sanctions Regulations (ITSR).
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