US extends ZTE's trade-sanctions relief

Skip to:

The US Commerce Department has issued a third extension of temporary relief to Chinese telecommunications company ZTE from export controls, giving it a further three-month stay to November 28. The US imposed export restrictions on ZTE in March  because of its suspected re-exporting of controlled items to Iran.

ZTE previously received temporary extensions in March and June that allowed the company to continue exporting products that contain US technology. The first reprieve came after an agreement between the Commerce department and ZTE, which would temporarily ease the sanctions if the Chinese company removed the executives accused of wrongdoings. ZTE subsequently replaced three of its most senior executives, including CEO Shi Lirong.

ZTE chairman and president Zhao Xianming said in a statement this week that the extension of interim relief will allow ZTE to continue serving customers, partners and suppliers in the US as “we address any remaining compliance issues with US authorities.”

Related analytics

Transaction Name Stage Est. Value
Export Development Canada/GBP250 million/0117 Financial close 307.30
Banco de Costa Rica/$150 million/0117 Financial close 150.00
Korea Eximbank/$1.5 billion/0117 Financial close 1500.00
Tanjung Power Indonesia/$422 million/0117 Financial close 422.00
PLN/$350 million/1016 Financial close 350.00
No data available
More transactions

Trade Finance on Twitter