July 13, 2018, the Bureau of Industry and Security (BIS) terminated the Denial Order on ZTE Corporation, the largest Chinese Telecommunication company. Effective immediately, ZTE Corporation and ZTE Kangxun are now eligible to receive US-origin goods and services. ZTE Parsian (Iran) and Beijing 8-Star International Co. (China) remain restricted parties. The Order is posted on BIS’s website.
This Denial Order lifting is pursuant to a settlement agreement reached by BIS and ZTE, where ZTE agreed, among other things, to pay a $1 billion civil penalty for export control-related violations, deposit $400,000 in escrow, completely replace its Board of Directors and senior leadership, and retain a team of special compliance coordinators managed by BIS for 10 years.
The ban was imposed after ZTE broke an agreement reached after ZTE pleaded guilty in U.S. federal court last year for illegally shipping telecommunications equipment to Iran and North Korea, making false statements, and obstructing justice and misleading the U.S. Government.
Follow this link for more information on the denial or against ZTE.