U.S. extends ZTE reprieve on alleged Iran sanctions violations

Chinese smartphone maker ZTE Corp said it has won a further reprieve to Nov. 28 on tough export restrictions that were imposed on the company by the U.S. government in March.

ZTE would continue to cooperate with relevant U.S. government departments to reach a final solution on the matter, the Shenzhen-based company said in a filing to the Hong Kong bourse on Friday.

In March, the U.S. Commerce Department hit the company with some of the toughest-ever U.S. export restrictions for allegedly breaking sanctions against Iran. The agency offered the company a three-month relief from the restrictions, which was later extended to Aug. 30.

Source: Reuters