(MENAFN) The US government is smacking overwhelming restrictions on ZTE, the Chinese multinational telecommunications equipment and Systems Company, and the Chinese government is not happy about it.
The US declared the sanctions yesterday, saying the company planned to sell US-made equipment to Iran's biggest telecommunications provider in 2012, in violation of US export restraints to the Islamic Republic.
Accordingly, in line with the prohibitions, US firms that work with ZTE like Intel, Microsoft and Qualcomm will be forced to apply for export licenses to ship anything to the Guangdong-based behemoth.
"China is opposed to the US citing local laws to place sanctions on Chinese firms, and we hope the US stops this erroneous action and avoids damaging Sino-US trade cooperation," said China's Foreign Ministry spokesman.
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