China’s ZTE seems to have gotten off the hook of U.S. export ban.
On Monday, the House and Senate announced that they have agreed to the final version of the annual defense policy bill, which did not include a provision to reinstate a U.S. export ban on ZTE. ZTE is a Chinese multinational telecommunications equipment and systems company,
In a deal with ZTE earlier this month, the U.S. Commerce Department agreed to lift the ban on the firm's purchase of American components, following ZTE’s paying up $1 billion fine and depositing $400 million in an escrow account. The Department has, however, indicated that it will keep a close watch on the telecom company. The ban originally was the result of ZTE admitting to charges of unlawfully selling American technology to Iran.