Huawei executive arrested by Canadian officials at United States request

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Chinese telecoms giant Huawei said on Thursday it was unaware of any wrongdoing by its chief financial officer, who was arrested in Canada and faces extradition to the United States.

She is also the daughter of the company's founder, Ren Zhengfei.

Wanzhou, the deputy chair at the company and the daughter of Huawei founder Ren Zhengfei, was arrested on 1 December in Vancouver at the request of USA authorities.

Since at least 2016, US authorities have been reviewing Huawei's alleged shipping of USA -origin products to Iran and other countries in violation of US export and sanctions laws. "The ban was sought by Ms Meng".

McLeod noted that a bail hearing has been set for this Friday, but declined to offer any further details on the case, citing a publication ban that he said was requested by Meng.

As part of the sanctions, the U.S. halted the import of Iranian oil, cutting off a key source of revenue for the nation.

It says she was arrested when she was transferring flights in Canada.

"The company believes the Canadian and USA legal systems will ultimately reach a just conclusion".

In April, the Wall Street Journal reported that Huawei was being investigated by NY prosecutors on suspicion of breaking the Iran sanctions. American prosecutors are seeking to have her moved to the U.S. as it investigates whether the company broke trade sanctions against Iran. Its equipment is banned in the U.S. and Australia and in the United Kingdom it is rigorously tested by the Government at a guarded facility.

Daily December E-mini S&P 500 Index
Daily December E-mini S&P 500 Index

One of Huawei's top executives was arrested in Canada today, but the move was reportedly made at the request of the United States government.

Ms. Meng is a rising star at Shenzhen-based Huawei, now the world's second-largest maker of telecommunications equipment.

Skycom was described by Huawei as one of its "major local partners", although the Chinese company said neither it nor Skycom ultimately provided the HP equipment.

Mr Little won't reveal what significant national security risks Huawei poses saying the information was classified.

The Chinese telecommunications giant is now in partnership with Canadian universities across the country as well as companies such as Telus, with whom it is developing 5G networks in Canada.

The report said existing Huawei equipment at the firm's current 3G and 4G networks would also be removed.

Trump has threatened to raise tariffs on Chinese goods in response to complaints that Beijing improperly pressures foreign companies to hand over technology.

In July, Huawei wrote to the US Federal Communications Commission (FCC) arguing that the nation should not miss out on its market-leading technology, and pointed out that its exclusion would drive up consumer costs for mobile services.

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