China's Huawei under US probe for Iran sanctions violations

China's Huawei under US probe for Iran sanctions violations

China warned the United States on Thursday against harming trade after a report that U.S. authorities had opened an investigation into suspected violations of Iran sanctions by China's Huawei Technologies. On the 20th of April, the US Congress published a report suggesting that ZTE, Huawei, and Lenovo were possibly involved in corporate espionage.

Investors are getting anxious regarding Chinese tech stocks following the announcement of a U.S. ban on ZTE and slowing smartphone sales, with big firms such as Lenovo faring poorly on the markets.

The probe of Huawei is similar to one that China's ZTE Corp says is now threatening its survival.The United States last week banned American firms from selling parts and software to ZTE for seven years.

"We hope that the USA doesn't take any further steps to damage confidence in the American business environment", Hua said at a regular press briefing.

Huawei spokesman Charles Zinkowski said in a statement that the company "complies with all applicable laws and regulations where it operates, including the applicable export control and sanction laws and regulations of the United Nations, U.S., and European Union". This includes any possible sanctions from the US, EU, and UN. The New York Times last April reported the US Treasury's Office of Foreign Assets Control subpoena, issued in December 2016, following a Commerce Department subpoena that summer.




Acacia, the Massachusetts-based optical interconnect components maker, is among the major affected American companies.

Huawei was expecting to launch the Mate 10 Pro on USA carriers this year, but government pressure forced both AT&T and Verizon to drop the deal. Government reports have also accused both ZTE and Huawei of being security threats to the US.

According to the report, the Department of Commerce has agreed to receive new evidence from ZTE through an informal procedure. The probe being conducted by the Justice Department is aimed at limiting the access of Huawei, ZTE and other Chinese tech companies to the U.S. market.

According to a copy of the letter obtained by Reuters, ZTE said the order should be "very concerning to all", since it took effect without warning to the industry, without waiting for the results of an independent internal investigation due at the end of the month, and without recognition for all the improvements in its export compliance program.

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