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US bans American companies from selling to Chinese phone maker ZTE

WASHINGTON: The US Department of Commerce is banning 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, US officials said on Monday. The Chinese company, a top smartphone seller in the United States, pleaded guilty last year in federal court in Texas for conspiring to violate US sanctions by illegally shipping US goods and technology to Iran. It paid $890 million in fines and penalties, with an additional…