China’s company ZTE, whichU.S. government accused of repeated violations of restrictions, paid the fine, amounting to $1 billion, the official representative of U.S. Department of Commerce said, CNN reports.
The payment was received in several days after President Donald Trump tried to persuade two dozens of legislators – mainly, Republicans – that the fine and appointment of U.S. monitoring group will be a sufficient punishment for ZTE.
According to the official, ZTE will also transfer $400 mln to the deposit account within the next few days. This money is targeted at “stimulating ZTE to comply with trade rules in the future”. The fact is that this banking account is created in such a way to allow U.S. government to obtain access ZTE funds in case of violations by the company.
Nevertheless, CNN notes that some legislators need stiffer punishments for ZTE, as they consider the company as the security threat. In its turn, President Trump wants to keep the company on U.S. market as the trump card on the negotiations with China.
It should be reminded that in April, U.S. authorities banned ZTE to purchase products of U.S. technological companies within seven years as well as limited the sales of ZTE smartphones and network equipment on the territory of the country.
One more payment, amounting to $400 million, should become the last measure for lifting the ban.
