Apparently ZTE will plead guilty to US criminal charges and pay hundreds of millions of dollars in penalties over allegations it violated US laws that restrict sale of US technology to Iran. We guess the upside of the deal is that the US will not shut the company down and prevent it using US tech in its products,
The company has not yet signed a deal with the US Department of Commerce, the U.S. Department of Justice and the US Department of Treasury, but it is pretty likely. ZTE really wants the incident to go away.
The only thing that can really go wrong is if Donald (Prince of Orange) Trump takes an interest. Trump is very much against Iran because his chum Bibi Netanyahu wants a world war against the country. Trump also does not like Chinese companies coming into the US either so might take the opportunity to scuttle any deal.
ZTE is expected to plead guilty to conspiring to violate the International Emergency Economic Powers Act, among other charges, the source said, and pay penalties in the hundreds of millions.
The Commerce Department investigation followed reports by Reuters in 2012 that the company had signed contracts to ship millions of dollars worth of hardware and software from some of America’s best-known technology companies to Iran’s largest telecoms carrier.