ZTE Exports to Iran

ZTE Corporation has agreed to enter a guilty plea and to pay a $430,488,798 penalty to the US for conspiring to violate the International Emergency Economic Powers Act (IEEPA) by illegally shipping US-origin items to Iran, obstructing justice and making a material false statement. ZTE simultaneously reached settlement agreements with the US Department of Commerce’s Bureau of Industry and Security (BIS) and the US Department of the Treasury’s Office of Foreign Assets Control (OFAC). In total ZTE has agreed to pay the US government $892,360,064. The BIS has suspended an additional $300,000,000, which ZTE will pay if it violates its settlement agreement with BIS.