Chinese telecoms firm ZTE fined $1.2bn for breaching US sanctions

The Chinese telecoms company ZTE has been fined $1.2 billion by US authorities for bringing American-made products into Iran and North Korea. The company’s shares jumped in trading in Hong Kong as investors expressed relief that the matter had been closed. Also today, a Wall Street firm has erected a statue to mark International Women’s Day.

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In This Story: Iran

Iran, also called Persia, officially the Islamic Republic of Iran, is a country in Western Asia. Its central location in Eurasia and proximity to the Strait of Hormuz give it significant geostrategic importance. Tehran is the capital and largest city.

Iran is home to one of the world’s oldest civilizations, beginning with the formation of the Elamite kingdoms in the fourth millennium BC. The Iranian Revolution established the current Islamic Republic in 1979.

Iran’s political system combines elements of a presidential democracy and an Islamic theocracy. Iran is a founding member of the UN, ECO, OIC, and OPEC. It is a major regional and middle power and has large reserves of fossil fuels — including the world’s largest natural gas supply and the third largest proven oil reserves.

The country’s rich cultural legacy is reflected in part by its 22 UNESCO World Heritage Sites. Historically a multi-ethnic country, Iran remains a pluralistic society comprising numerous ethnic, linguistic, and religious groups, the largest being Persians, Azeris, Kurds, Mazandaranis and Lurs.

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  • In This Story: North Korea

    North Korea, officially the Democratic People’s Republic of Korea, is a country in East Asia constituting the northern part of the Korean Peninsula.

    Pyongyang is the country’s capital and largest city.

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    The United States is a country also known as the United States of America, USA, US or just America. There are fifty states in the union, which is a federal republic ruled by a representative democracy. Nearly ten million square kilometres are inhabited by over 300 million people. The majority of Americans speak English.

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