U.S. regulators have slapped Chinese telecom ZTE Corp with what could be a stunning penalty—a seven-year ban on buying and exporting parts and technology from U.S. companies, after it was discovered the firm violated the terms of a 2017 settlement.

Secretary of Commerce Wilbur Ross Jr. announced the ban Monday. His statement said the government has discovered that ZTE made false statements in 2016 during settlement negotiations as well as in 2017 during its probation regarding discipline taken against senior employees involved in misconduct.

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