Chinese ZTE will receive a loss in the first half of the year because of sanctions from the US

According to preliminary data of the Chinese manufacturer of telecommunications equipment ZTE, due to sanctions from the US, its loss in the first half of the year could be from 7 billion to 9 billion yuan against a profit of 2 billion 300 million yuan for the same period a year earlier. The company estimated the loss per share in the range of 1.67 to 2.15 yuan. Earlier it was reported that after the company transferred the remaining $400 million to the target deposit as part of a fine for violations, it will be able to resume purchases of the US companies' products. For violation of the sanctions regime against Iran and North Korea, ZTE was fined 1 billion 400 million dollars. The US Department of Commerce also banned it from buying products from the American technology companies.

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