Nytex

China's ZTE granted extended reprieve from US sanctions 

China's ZTE has been granted a temporary reprieve by the US government which had imposed sanctions on the company following allegations that it broke US sanctions against a number of countries.
In a statement, the US Commerce Department said it would extend the temporary lifting of sanctions against ZTE until the end of August. It did not explain the decision.

The firm was hit with sanctions barring it from buying US supplied telecoms components back in March, but was granted a temporary reprieve which was due to expire this week.

"This extension of relief reflects ZTE's continuing efforts to fulfill its commitments to create a best-in-class compliance program. It also recognizes ZTE's determination to cooperate with authorities, resolve the continuing investigation and share information as requested," the company said in a statement.

Source: Cellular News