The United States will allow the Chinese telecommunications company ZTE to temporarily resume some of the business activities necessary to maintain existing networks and facilities. Washington is now considering abolishing the measure by which in mid-April it banned US businesses to sell parts and software to a Chinese company in connection with a case of illegal supplies of US goods and technology to Iran and the DPRK.
The seven-year ban has paralyzed ZTE's core business and even threatened the company with bankruptcy.
The Ministry of Trade's authorization, which was available to Reuters, is valid from 2 July to 1 August. The Chinese Telecommunication Twin allows the continued operation of existing networks and facilities and the provision of customer support for contracts signed before April 15. It also allows limited funds to ZTE and vice versa. The Ministry of Trade, however, stressed that the April ban remains valid.
ZTE is currently trying to meet a number of requirements that would allow it to fully re-establish business activities in the US. A $ 1 billion
, ZTE has already paid for Reuters, but has yet to remit $ 400 million to a trust account for future mistakes. In addition, he must make changes in his leadership. According to the agreement, ZTE will supervise for ten years a team that will select the US Department of Commerce.
The company has now reported the departure of one of its top officials for personal reasons and, according to sources, Reuters on Tuesday released an internal report announcing the departure of seven other top executives without giving any reason.