Chinese telecom equipment maker ZTE will appeal new export restrictions imposed by the US Commerce Department for violation of Iran sanctions, Reuters reported, citing unnamed sources. The news agency cited an unnamed official at the department as saying that it was in “ongoing discussions” with ZTE which “have been constructive, and we will continue to seek a resolution.” The restrictions are a blow for ZTE, which has spent US$5.1 million in the last four years on lobbying efforts to assuage security concerns since coming under scrutiny in 2012 for alleged deals with Iran and possible links to China’s government and military.
China Economic Review