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ZTE suspends trading after being blacklisted by the United Kingdom and US

ZTE suspends trading after being blacklisted by the United Kingdom and US

Separately, the United Kingdom has also warned United Kingdom telecom companies to not use ZTE equipment and services, on security grounds.

Stephen Hadley, national security adviser under President George W. Bush, on President Trump's decision to block Broadcom's takeover of Qualcomm, the president's push for a wall along the border with Mexico and the president's upcoming meeting with North Korean leader Kim Jong Un.

The U.S. Department of Commerce has banned American companies from selling components to leading Chinese telecom equipment maker ZTE Corp for seven years for violating the terms of a sanctions violation case, U.S. officials said on Monday.

The action of the ban imposed by the USA on the ZTE corp. means that one of the world's top manufacturers of smart phones and communication gear will not be able to buy technology from American Supplies.

In March 2017, ZTE agreed to a combined civil and criminal penalty and forfeiture of $1.19 billion after illegally shipping telecommunications equipment to Iran and North Korea, making false statements, and obstructing justice including through preventing disclosure to and affirmatively misleading the U.S. Government.

ZTE paid $890m in fines and penalties, with an additional penalty of $300m that could yet be imposed.

As part of the agreement, ZTE said it would dismiss four members of senior staff to discipline 35 more.

Russian Federation warns against snap judgments on alleged Syria chemical attack
President Donald Trump responded to this weekend's alleged chemical attack on Monday in a press pool, striking an aggressive tone. An American official said the USA was discussing with allies whether they would participate in a retaliatory strike.

The Hong Kong-listed shares of ZTE were suspended on Tuesday.

Citing a long and continuing pattern of deception, cover-ups and evidence tampering as well as the failure to follow the provisions of a 2017 settlement agreement, U.S. Secretary of Commerce Wilbur Ross announced that he has allowed a previously imposed seven-year suspension of export privileges to go into effect. "This egregious behavior can not be ignored", said Secretary of Commerce Ross.

And although the White House and the Committee of Foreign Investment in the United States has moved against China in recent weeks, it insisted that the new decision to block ZTE - already under investigation by the Barack Obama administration - is part of a backlash against the country which also includes countries such as Germany, Australia and Canada.

A spokeswoman told the Financial Times: "BT takes the security of the UK's critical national infrastructure very seriously and has a robust testing regime in place to ensure that the equipment from all suppliers used in our network remains secure".

The UK's National Cyber Security Centre, which is part of intelligence agency GCHQ, is warning that nation's telecommunications sector to avoid ZTE equipment.

China's government says it is ready to protect its "legitimate rights" after US authorities penalized a Chinese telecoms equipment maker over a case involving exports to Iran and North Korea. "Adding in new equipment and services from another Chinese supplier would render our existing mitigations ineffective".

It is understood that Huawei equipment is monitored by a special cell staffed by GCHQ in Banbury to ensure no interference. Officials believe one way to manage the risks posed is to have non-Chinese equipment installed alongside the Chinese-made gear.

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