US Reportedly Investigating Alleged Iran Sanctions Violations By China's Huawei

27 April, 2018, 00:56 | Author: Elena Summers
  • The ZTE Axon

According to the new report, the DoJ previously issued Huawei administrative subpoenas to gather information on possible violations of Iranian sanctions. The U.S. also has taken actions aimed at reducing access to the U.S.by ZTE and Chinese tech company Huawei Technologies Co Ltd amid allegations the companies could be using their technology to spy on Americans.

The company is taking steps to suspend affected transactions as a result of the ban and is assessing the impact of these developments on Acacia, it said in a statement. John Marzulli, a spokesman for the prosecutor's office, would neither confirm nor deny the existence of the investigation.

Huawei, the third largest smartphone maker in the world, said that it complies with "all applicable laws and regulations where it operates, including the applicable export control and sanction laws and regulations of the UN, US and European Union".

Shares of several U.S. suppliers of ZTE slumped immediately after the U.S. Department of Commerce banned sales of components to ZTE for seven years for its alleged violations of the Export Administration Regulations.

Washington imposed almost $1 billion of fines on ZTE for allegedly illegally shipping USA goods to Iran.

Following a somewhat gloomy outlook from Apple's main supplier of semiconductors, Taiwan Semiconductor Manufacturing Co., markets are also losing confidence in Chinese hardware makers.

Chinese foreign ministry spokeswoman Hua Chunying said she had seen the report.

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"China's position opposing nations using their own domestic laws to impose unilateral sanctions is consistent and clear", she told a daily news briefing. China doesn't actually have any sanctions on the country, and shipping Chinese technology would not directly violate U.S. sanctions.

"The Denial Order will not only severely impact the survival and development of ZTE, but will also cause damages to all partners of ZTE including a large number of U.S. companies", ZTE said. On the 16th of April, the U.S. government imposed a seven-year ban on ZTE Corp., a telecommunications equipment producer.

That is why the U.S. government has treated Huawei and ZTE differently.

In April 2017, lawmakers sent another letter to Commerce Secretary Wilbur Ross asking for F7 to be publicly identified and fully investigated.

ZTE has objected to the imposition of a seven-year ban on importing any USA components as part of the ongoing fallout over allegations that the company violated United States sanctions by selling equipment with U.S. components to Iran and North Korea.

ZTE Corp also invested $50 million in compliance training previous year, a number expected to increase, and has organized 65,000 staff members to attend, the report said.

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