Huawei CFO arrested in Canada for violating Iran sanctions

Huawei CFO arrested in Canada for violating Iran sanctions

In Asia, today, Japan's Nikkei shed more than 400 points or 1.9% to trade at 21,501 while Hong Kong's Hang Seng plummeted 770 points or 2.9% lower to 26,040 and the Shanghai Composite slid down 1.46% to 2,610.

A Huawei spokesperson said Meng faces unspecified charges in the Eastern District of NY.

The Chinese Embassy in Ottawa said her human rights were violated and demanded her immediate release.

The Ministry of Commerce indicated Beijing was trying to prevent the case from disrupting progress toward ending its technology battle with Washington. "The Chinese government should seriously mull over the USA tendency to abuse legal procedures to suppress China's high-tech enterprises".

The tensions between the USA and Huawei started a few months ago due to allegations of spying by the Chinese government using Huawei's equipment. Under Trump and his predecessor, Barack Obama, Washington has pressured European countries and other allies to limit use of its technology.

Huawei, the biggest global supplier of network gear used by phone and internet companies, has been the target of deepening USA security concerns. President Trump has agreed to postpone planned tariff hikes on Chinese goods, while China has pledged to purchase a "very substantial" amount of American produce and curb the export of deadly opioid Fentanyl to the U.S. in exchange. But American officials also worry more broadly that Chinese plans for state-led creation of Chinese champions in robotics, artificial intelligence and other fields might erode US industrial leadership.

National security advisor and mustache aficionado John Bolton said in an interview with NPR that not only did they know Meng was going to be cuffed by Canadian authorities, but he was actually dining with Chinese President Xi Jinping when the arrest occurred. The U.S. government has largely banned the use of Huawei equipment by its agencies, and intelligence officials have warned that Beijing may have the ability to tap into the firm's equipment to spy on users.

"The Chinese are likely to play tit for tat on this one and we should be ready for it", said Fen Hampson, the director of the global security program at the Centre for Governance Innovation in southern Ontario.

Since then, Huawei is facing operational difficulties in the USA and some other countries like Australia, New Zealand, etc.

BT, Britain's largest mobile provider, said this week it was removing the equipment of Huawei from its 4G cellular network.

Huawei later said the HP equipment was ultimately not provided to Iran either by Huawei or Skycom, Reuters said. The Wall Street Journal reported in April that the US Justice Department was investigating whether Huawei violated US sanctions on Iran. The Chinese government appealed to Washington to avoid any steps that might damage business confidence.

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He said under the deal China would buy a "tremendous amount of agricultural and other product" from the United States. He said the meeting with Trump was a "representation of our personal friendship".

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Graham wrote in the Journal that "it is important for Congress to signal that there is no excuse for recent Saudi behavior". The Senate could take a vote on proceeding to the Yemen resolution next week.

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Insisting it would only use missiles for defensive purposes, Iran has repeatedly rejected negotiations over its missile program. The Trump White House officially withdrew from the pact, known as the Joint Comprehensive Plan of Action, in May.

The Wall Street Journal reported earlier this year that US authorities were investigating whether Huawei violated sanctions on Iran.

Although Huawei sought to distance itself from Skycom, investigative journalists found close connections between the two companies.

The privately held company, based in southern China's tech hub of Shenzhen near Hong Kong, is the world's largest supplier of network gear used by phone and internet companies. It surpassed Apple in smartphone sales in the second quarter of this year, leaving it behind only market leader Samsung.

The arrest of Huawei Technologies Co.'s Chief Financial Officer Wanzhou Meng in Canada is linked to potential violations of USA sanctions on Iran by the Chinese company.

Huawei, in that statement, also said the company complies with all applicable US and Canadian laws.

A US Justice Department spokesman declined to comment.

In 2016, the Commerce Department sought information regarding whether Huawei was possibly sending USA technology to Syria and North Korea as well as Iran.

Geng, the foreign ministry spokesman, said China objects to unilateral sanctions outside the United Nations. He also said the Iran allegations are very damaging to Huawei and said China will push back hard.

As well as the CFO, she is deputy chairwoman of Huawei and a daughter of the company's founder.

Another version says Ms Meng changed her surname of her own accord when she was 16.

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