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ZTE Facing US Investigation Over Sales to Iran
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China's ZTE is facing an investigation by American authorities over allegations that it sold embargoed US supplied computer equipment to Iran.
The USA has banned exports of all non-humanitarian goods to Iran as part of its government policy to prevent Iran developing nuclear weapons.
Earlier this year, ZTE said that it was cutting its deals with Iranian telecoms operators following reports that it has sold surveillance products in the country.
ZTE is now accused of discussing the destruction of documents that proved the company had shipped embargoed US computer goods to the country.
The company has also been under investigation by the US Commerce Department.
In related news, the company also warned that it expects its first half profits to fall by 60-80 percent when finally announced. The company did not cite the FBI investigation, claiming the drop will be due to currency fluctuations and slower domestic sales.
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