Jakarta -The United States government has reached an agreement with ZTE Corp. thus making the company back in operation.
The decision comes after the Chinese company paid a $ 1.3 billion penalty, altering management and board of directors, and ensuring a high level of security.
“I have reached agreement and allowed it to re-operate with high-level security guarantees, change of directors and management, and pay a penalty,” US President Donald Trump said.
ZTE itself is prohibited from purchasing technological components from the United States in April for 7 years for violating the agreement. The Chinese company has violated US sanctions against Iran and North Korea.
After the company made a number of changes mandated by the US, ZTE is now allowed to do business with US companies, including Qualcomm Inc. ZTE is a company with majority ownership by a Chinese public company.
As is known, ZTE proved to ship goods to Iran and North Korea, violating sanctions given US and North Korea. As a result of these actions, the company lost more than US $ 3 billion since April 15 because it can not do business with US companies.