June 13, 2017

June 12, 2017

Subscribe to Latest Legal News and Analysis

ZTE Corporation Enters Into US$1.19 Billion Settlement

On 7 March, the Departments of Commerce, Justice, and Treasury jointly announced a US$1.19 billion settlement with China-based telecommunications company ZTE Corporation and its subsidiaries and affiliates (together ZTE) for allegedly violating US sanctions and export controls laws. ZTE agreed pay a US$100.9 million civil penalty to the Office of Foreign Assets Control (OFAC); a US$661 million civil penalty to the Bureau of Industry and Security (BIS) (US$300 million of which will be suspended during a probationary period); and a US$430 million penalty to the Department of Justice, subject to court approval. Separately, and as addressed in the earlier portion of this update, effective 29 March, the BIS removed ZTE Corporation and ZTE Kangxun from the Entity List, while simultaneously adding former ZTE Corporation Shi Lirong to the list.

© Copyright 2017 Squire Patton Boggs (US) LLP

TRENDING LEGAL ANALYSIS


About this Author

We employ a comprehensive approach when it comes to our International Trade practice. We focus on global import and export compliance, international trade policy and market access and trade remedies/defense. Our lawyers practice international trade law in almost every country where we have an office, and our full-time practitioners operate out of our Washington DC, London and Brussels offices.

We offer a “one-stop” service encompassing international trade compliance and policy acumen to make necessary judgments while operating effectively in a...

202-626-6234