Payment in the amount of $ 400 million in the form of escrowed will be the last step before lifting the ban.
The Chinese company ZTE, which the US government was accused of repeated violations of the sanctions and paid a fine in the amount of $ 1 billion.
This was stated by official representative of the Ministry of Commerce, writes in reference to .
Payment came a few days after President Donald trump tried to convince two dozen lawmakers – mostly Republicans – that a fine and the appointment of an American monitoring group that will be punishment enough for ZTE.
According to the official, the Chinese company ZTE Corporation will put $ 400 million into an escrow account in the coming days. These money are designed to give ZTE the incentive for trade compliance in the future.
The white house and Congress had a disagreement about the company that makes the smartphones and is the second largest manufacturer of telecommunications equipment in China.
Some legislators need stricter punishments against ZTE, which they consider a security threat. Trump wants to keep the company as a bargaining chip in trades in the broader trade with China.
This week trump met with lawmakers at the White house to discuss the situation in legislation, defence policy, which would prevent the ban on ZTE doing business with their American suppliers. This will effectively revive the company, which employs about 75 000 people.Republicans and Democrats were United in trying to block the deal trump about lifting sanctions against ZTE. On 19 June, the Senate included the amendment to reject the administration agreement trump with Chinese telecommunication company ZTE.