The US Department of Commerce has extended a sanctions reprieve for ZTE granted after the Chinese telecom equipment maker was accused of violating US law by re-exporting sensitive American technology to Iran.
In a statement to the Hong Kong Stock Exchange, the firm said it had been notified that the department’s Bureau of Industry and Security had issued a further ruling coming into effect on 28 June extending to August 30 a temporary general license previously granted to ZTE allowing it to continue normal operations.
ZTE had faced a ban on receiving supplies of US technology, potentially crippling its operations.
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