ZTE suspends trading after being blacklisted by the United Kingdom and US

Visitors pass in front of the ZTE Corp. booth at the Mobile World Congress in Barcelona Spain

The ban comes after ZTE violated an agreement that was reached after it was caught illegally shipping USA technology to Iran and North Korea.

As part of the agreement, Shenzhen-based ZTE promised to dismiss four senior employees and discipline 35 others by either reducing their bonuses or reprimanding them, senior USA officials told Reuters.

The US government has banned American companies from selling components to China's ZTE despite reaching a $1.2 billion settlement with the telecom giant in 2017 over trade with Iran.

Denying ZTE export privileges prevents the company from "participating in any way in any transaction" subject to the US government's Export Administration Regulations, which govern sales of sensitive technology overseas.

In a statement on the ZTE website the Chinese manufacturer commented: "ZTE is aware of the denial order activated by the United States Department of Commerce". It was fined $890 million and agreed to dismiss four members of senior staff, and to discipline 35 more.

A spokesperson for BT told the Financial Times: "BT takes the security of the UK's critical national infrastructure very seriously and has a robust testing regime in place to ensure that the equipment from all suppliers used in our network remains secure".

The U.S. Federal Communication Commission on Tuesday plans to consider a ban on the networking equipment from the companies of ZTE and Huawei.

ZTE agreed in March of a year ago to plead guilty and pay as much as $1.2 billion for violating US laws restricting sale of American technology to Iran.

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"China does not play by our rules, and we must be vigilant against Chinese threats to both our economic security and national security", said Republican Representative Robert Pittenger after the Commerce announcement.

For ZTE itself, the latest US action means one of the world's top makers of smartphones and communications gear will no longer be able to buy technology from American suppliers, including components central to its products.

On Monday, Britain's main cyber security agency said it had written to organizations in the telecommunications sector warning about using services or equipment from ZTE.

The action of the ban imposed by the US on the ZTE corp. means that one of the world's top manufacturers of smart phones and communication gear will not be able to buy technology from American Supplies.

The US action takes aim at a profitable network equipment business for ZTE, which sells key telecommunications hardware and software to mobile services providers around the world.

It also comes amid heightened tensions between the US and China, which are now engaged in a tit-for-tat exchange of possible tariffs.

Secretary of commerce Wilbur L.Ross Jr said: "ZTE misled the department of commerce". ZTE has purchased chips from Qualcomm Inc.

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