U.S. accuses Chinese company of helping ZTE hide business with Iran World Finance News

Source: worldfin.news worldfin.news

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The U.S. Commerce Department on Tuesday accused Far East Cable, China’s largest wire and cable manufacturer, of violating U.S. export controls related to shipments of telecommunications equipment to Iran. Far East Cable entered into an agreement in 2013 to buy equipment from Chinese telecommunications equipment maker ZTE Corp (HK:0763). and then contracted with Iranian companies to supply telecommunications equipment and parts, the Commerce Department said in a charging letter. It accused Far East Cable of 18 violations of U.S. export controls between September 2014 to January 2016. Far East Cable contracted with Telecommunications Company of Iran (TCI) and Khadamate Ertebati...