Matthew axelrod - Latest News Update, Information, Photos & Videos on Matthew axelrod at Lokmat Times

Washington, April 20 US authorities have imposed a $300 million penalty on tech firm Seagate for allegedly violating export controls of hard disk drives to China's Huawei.Seagate Technology shipped more than $1.1 billion worth of goods to Huawei after export controls were introduced in 2020, the BBC quoted the Department of Commerce as saying.The penalty is the latest move by the US government to stop sales of sophisticated technology to China.US authorities have said such equipment may be used by China's military.Seagate shipped 7.4 million drives to Huawei for about a year after the rule was imposed by the administration of former President Donald Trump, according to the Commerce Department.It continued to do so "even after Huawei was placed on the Entity List for conduct inimical to our national security", Matthew Axelrod of the department's Bureau of Industry and Security (BIS) said."This settlement is a clarion call about the need for companies to comply rigorously with BIS export rules, as our enforcement team works to ensure both our national security and a level playing field," Axelrod added.Huawei's other two main hard drive suppliers had stopped exports to the Chinese firm in accordance with the new rule, the Department said.Seagate said the penalty will be paid in instalments of $15 million every three months for the next five years, the BBC reported.It comes as the US continues its drive to curb sales of technology, such as advanced computer chips, to China.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

Matthew AxelrodFOLLOW

Matthew axelrod, Latest News

Technology :US imposes $300m penalty over hard disk drive exports to Huawei

Washington, April 20 US authorities have imposed a $300 million penalty on tech firm Seagate for allegedly violating ... ...