US Government Fines Chinese Firm a Record $1.19 Billion for Doing Business With Iran and North Korea
This is something we need to see more of, financially going after the companies who supply the Kim regime with banned goods and technology:
The Donald Trump administration fined Chinese tech giant ZTE a record $1.19 billion Tuesday for selling American telecommunications equipment to Iran and North Korea, breaching sanctions.
Between January 2010 and last April, ZTE conspired to evade U.S. embargoes by obtaining contracts and sales with Iranian entities, including those affiliated with the Tehran government, said the U.S. Department of Commerce, earning it hundreds of millions of dollars.
ZTE, China’s second-largest maker of telecom equipment, is said to have bought American equipment and software and illegally shipped them to Iran, supporting building of large-scale telecommunications networks there.
In addition, ZTE was charged in connection with 283 shipments of telecommunications equipment to North Korea, with knowledge it violated U.S. Export Administration Regulations.
The civil and criminal penalty of a combined $1.19 billion is the largest fine levied by the United States in a sanctions case. [Joong Ang Ilbo]
You can read more at the link.
The Communist red Chinese like the dictatorship of North Korea should never be trusted.
Brilliant.
America sells advanced telecommunications equipment to China at a profit and then fines China for giving it to Iran… making another profit on the back end.
That should pay for the development costs of all the bugs, taps, snoopers, listeners, recorders, creepers, and backdoors which fill this kind of stuff by default when sold for domestic use… as well as whatever might be specially added for the Chinese market… and what might be added for the Iranian market when they are pretty sure the Chinese are going to resell it anyway.
Brilliant.