ZTE Corp (ZTE.CVE), China’s second-largest telecommunications equipment maker, agreed to export US$10.5 million worth of embargoed American computer equipment to Iran, Reuters reported. Documents reviewed by Reuters showed the US tech products were part of an equipment-supply contract dated June 30, 2011 between ZTE, Beijing 8-Star and Aryacell, a unit of Iran Mobin Electronic Development that shares control of Telecommunication Co. of Iran with the Iranian government. Equipment contracted for delivery included IBM (IBM.LON) servers, Cisco (CSCO.NASDAQ) switches and Oracle (ORCL.NASDAQ) database software intended for business-support services. China is a key channel for sophisticated American technology to flow to Iran, despite US and EU sanctions. A ZTE spokesman said Monday that the company has “no intention to implement this contract or ship the products.”
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