- Aug 6, 2012
- 28,098
- 24,883
- 2,405
They got off cheap, though it is a record penalty.
The threat pf such a massive fine on top of the NAFTA grievance process, must be undertaken by the U.S against Canada as well. Advise Canada, "if you enter our corporations, interfere in the free market and our Right to Self Determination, we will fine you accordingly and substantially". America can no longer allow it's businesses to be playgrounds for Canadian security agents.
ZTE receives record $1.2 billion fine for breaking US sanctions
ZTE, China’s second-largest maker of telecoms equipment, has been hit by a record fine from the US government. The company has pled guilty to charges of violating US sanctions against both Iran and North Korea, and will pay up to $1.2 billion — the largest criminal fine in a US sanctions case to date.
According to the United States Department of Commerce, from 2010 to 2016 ZTE “conspired to evade” America’s embargo against Iran. The Chinese firm sold US-made hardware and software to the country to supply its telecommunications infrastructure. ZTE is also charged with making 283 shipments of equipment (including servers and routers) to North Korea, which is also under US trade embargoes. The US government says ZTE officials repeatedly lied to and misled federal investigators over the course of a five-year investigation. A break came when the US seized a laptop belonging to a ZTE lawyer that contained a trove of documents outlining the company’s illegal sales.
“We are putting the world on notice: the games are over,” said billionaire investor and secretary of commerce Wilbur Ross in a statement. “Those who flout our economic sanctions and export control laws will not go unpunished — they will suffer the harshest of consequences.” ZTE faces an immediate fine of $892 million, and is on the hook for a further $300 million in future penalties, dependent on its compliance with the terms of the deal.
The threat pf such a massive fine on top of the NAFTA grievance process, must be undertaken by the U.S against Canada as well. Advise Canada, "if you enter our corporations, interfere in the free market and our Right to Self Determination, we will fine you accordingly and substantially". America can no longer allow it's businesses to be playgrounds for Canadian security agents.
ZTE receives record $1.2 billion fine for breaking US sanctions
ZTE, China’s second-largest maker of telecoms equipment, has been hit by a record fine from the US government. The company has pled guilty to charges of violating US sanctions against both Iran and North Korea, and will pay up to $1.2 billion — the largest criminal fine in a US sanctions case to date.
According to the United States Department of Commerce, from 2010 to 2016 ZTE “conspired to evade” America’s embargo against Iran. The Chinese firm sold US-made hardware and software to the country to supply its telecommunications infrastructure. ZTE is also charged with making 283 shipments of equipment (including servers and routers) to North Korea, which is also under US trade embargoes. The US government says ZTE officials repeatedly lied to and misled federal investigators over the course of a five-year investigation. A break came when the US seized a laptop belonging to a ZTE lawyer that contained a trove of documents outlining the company’s illegal sales.
“We are putting the world on notice: the games are over,” said billionaire investor and secretary of commerce Wilbur Ross in a statement. “Those who flout our economic sanctions and export control laws will not go unpunished — they will suffer the harshest of consequences.” ZTE faces an immediate fine of $892 million, and is on the hook for a further $300 million in future penalties, dependent on its compliance with the terms of the deal.
