Canada arrests Huawei’s global chief financial officer in Vancouver

US stocks slumped at the start of US trading following European and Asian shares lower as concern resurfaced that trade tensions between the world’s two largest economies are far from resolved

A Huawei spokesman said Wednesday that Ms. Meng was arrested while transferring flights in Canada.

Canada has arrested the chief financial officer of Huawei, the Chinese telecoms giant at the centre of a spying row, as USA authorities seek to extradite her.

He said Meng is sought for extradition by the U.S.

"The company has been provided very little information regarding the charges and is not aware of any wrongdoing by Ms Meng".

"Americans are grateful that our Canadian partners have arrested the Chief Financial Officer of a giant Chinese telecom company for breaking USA sanctions against Iran, " he said.

Several months after Donald Trump signed a bill into law preventing US government agencies from buying certain products from the Chinese electronics manufacturer, Huawei's CFO has been arrested in Canada.

The Wall Street Journal reported in April that US Department of Justice had opened an investigation into suspected violations of Iran sanctions by Huawei.

However, Trump's administration has been cracking down on Chinese involvement in the American tech sphere, including with draft legislation barring the sale of national security-sensitive technology to China and blocking government or contractors from buying telecommunications equipment and services from both Huawei and ZTE.

Mark Warner want Canada to follow the USA and Australia and block Huawei from supplying equipment that would connect Canadians to the high-speed mobile network known as 5G. She is reportedly sought by the USA for breaking trade embargo with Iran.




In January 2013, Reuters reported that a Hong Kong-based firm that attempted to sell embargoed Hewlett-Packard computer equipment to Iran's largest mobile-phone operator had much closer ties to China's Huawei Technologies than was previously known.

The arrest in Vancouver is related to violations of United States sanctions, a person familiar with the matter said.

He refused to provide any details on the circumstances of the Chinese executive's arrest, saying that she was "sought for extradition by the United States".

Meng Wanzhou is reportedly the CFO and deputy chairwoman of Huawei-as well as the daughter of Ren Zhengfei, Huawei's founder.

The United States and Australian governments have long expressed concerns about the security implications of using telecommunications equipment from China.

In June, Canada's Globe and Mail newspaper reported that U.S. lawmakers warned the Canadian government that Huawei posed a major cybersecurity risk. The Pentagon stopped offering Huawei's devices on US military bases citing security concerns.

As part of a new deal to lift the ban, ZTE agreed to pay $1 billion in fines, replace its entire board of directors and senior management, and to have a compliance team assembled by the U.S. Commerce Department embedded in its operations.

Huawei could not be reached for comment at the time of publication.

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