A denial of export order which banned Chinese telecommunications equipment and systems supplier ZTE from doing business with American firms has been lifted. U.S. secretary of commerce Wilbur L. Ross, Jr. has announced that ZTE has placed the required $400 million in escrow at a U.S. bank, after which the Department of Commerce lifted the denial order on ZTE in accordance with a June settlement agreement. The funds are in addition to the $1 billion penalty that ZTE paid to the U.S. Treasury last month, and further still to the $892 million in penalties ZTE has already paid to the U.S government under a March 2017 settlement agreement.
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