Home » Money

Huawei CFO arrested in Canada for U.S. ‘for violating Iran sanctions’

06 December, 2018, 05:57 | Author: Shawna Walton
  • E-mini S&P 500 Index

Huawei's Meng Wanzhou was arrested in Vancouver while transferring flights, according to the publication.

Canadian authorities have arrested Huawei's chief financial officer, Wanzhou Meng.

Earlier this year, it barred USA companies from exporting to Chinese telecommunications firm ZTE over violations of the Iranian sanctions, effectively shutting down the firm.

Meng's arrest is related to alleged violations of U.S. sanctions, according to Reuters news agency.

The global chief financial officer of Chinese phone firm Huawei is facing extradition to the USA after being arrested in Canada.

"She is sought for extradition by the United States, and a bail hearing has been set for Friday", Ian McLeod, a department spokesman, said in an email.

She now faces possible extradition to the U.S. This time around, however, the issue is not a potential national security risk, but rather accusations that CFO Wanzhou Meng violated U.S. sanctions regarding Iran.

A spokesman for the US Justice Department in the Eastern District of NY - which Huawei said had brought the charges - declined to comment. Its devices have come under scrutiny from United States authorities over spying fears, and the arrest of its CFO has the potential to further inflame tensions between the two countries amid a mounting trade war.

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

USA authorities have been probing Huawei's alleged shipping of American-origin products to Iran in violation of US export and sanctions laws, sources told Reuters in April.

Meng is the daughter of Huawei's founder and CEO Ren Zhengfei, and also serves as deputy chair on Huawei's board.

US telecommunications firms fear that partnering with Huawei by allowing it to sell their smartphones would anger the federal government and jeopardize future contracts.

David Mulroney, a former Canadian ambassador to China, said USA and Canadian business executives could face reprisals in China.

Earlier this year, two US senators wrote to Prime Minister Justin Trudeau warning him that doing business with the Chinese telecom giant would open Canada up to a huge security risk.

Canada, Australia and New Zealand were among the nations to ban the use of Huawei's equipment due to security concerns.

The U.S.is anxious about the extent to which Chinese-made equipment is used in the telecommunications sectors of countries that host American military bases.

However, earlier this year, the United States banned American firms from selling parts and software to ZTE for seven years, a move which brought the company to its knees.

Recommended:

  • Messi and Ronaldo fans slam organisers of Ballon d'Or

    Messi and Ronaldo fans slam organisers of Ballon d'Or

    France Football has awarded the prestigious prize to the best male player every year since 1956, adding a women's award this year. As far as his role with Real Madrid is concerned, the 25-year-old was an ever present in the Champions League knockout stages.
    Priyanka Chopra, Nick Jonas continue wedding celebrations in Delhi

    Priyanka Chopra, Nick Jonas continue wedding celebrations in Delhi

    On Tuesday night, the two families came together for a stunning wedding reception in Delhi, India. Just this evening, PEOPLE magazine exclusively unveiled pictures and they looked regal as ever.
    G20 leaders back WTO reforms amid global trade tensions

    G20 leaders back WTO reforms amid global trade tensions

    Critically, that includes the previously slated January 1 increase from 10 to 25 per cent on some US$200 billion in Chinese goods. His tariff campaign against the country began in January 2018, and saw a 25 per cent tariff on steel imports imposed in March.
  • Global Geopolitical Series: Is MbS set to lose crown prince's position?

    Global Geopolitical Series: Is MbS set to lose crown prince's position?

    He said finding a compromise will be hard because some lawmakers don't want to tie Yemen to the Khashoggi killing. Trump said in a statement in November that "we may never know all of the facts surrounding the murder".
    Trump hopes to meet Kim early 2019

    Trump hopes to meet Kim early 2019

    Trump and Xi agreed that "great progress has been made with respect to North Korea ", the White House statement added. The president tells reporters that there are three sites under consideration, but he's not identifying them.
    Marine Corps Punishes 2 Aviators over Sky Penis Incident

    Marine Corps Punishes 2 Aviators over Sky Penis Incident

    The Marine Corps offered little information in a statement about the incident, which occurred at 2am (4am AEDT) on Thursday. Officials who spoke on condition of anonymity were unsure how the mishap may have occurred but none suspected foul play.
  • National day of mourning: What's open and what's closed on Wednesday

    National day of mourning: What's open and what's closed on Wednesday

    Leaders said they'll push off until later this month a looming shutdown showdown, eager to avoid tainting the commemoration of Mr. Earlier, Laura Bush went over to get a tour with Melania of the White House Christmas decorations.
    NFL's Chiefs Cut Player Seen Attacking Woman

    NFL's Chiefs Cut Player Seen Attacking Woman

    As we first reported, the woman repeatedly told Cleveland PD officers who responded to the scene she wanted to press charges. With trembling emotion in his voice, Hunt apologized for his mistake and pleaded to the Chiefs to reconsider their decision.
    Organizations urge Trudeau to pass on signing USMCA

    Organizations urge Trudeau to pass on signing USMCA

    A senior White House official later said Trump and bin Salman exchanged pleasantries during a subsequent leaders' session. The new agreement must be ratified by the parliaments in each of the three countries in order to take effect.
  • CFP rankings: Oklahoma joins Alabama, Clemson, Notre Dame in playoff

    CFP rankings: Oklahoma joins Alabama, Clemson, Notre Dame in playoff

    Among this season's playoff participants, Oklahoma is closest to Northern California, about 1,400 miles. The Sooners and the Cowboys will clash with opponents from the Southeastern Conference, too.
    Recruits react to news of Meyer's impending retirement

    Recruits react to news of Meyer's impending retirement

    Coach Ryan Day now serves as the offensive coordinator and quarterbacks coach, according to the school's website. When asked if he would ever coach again, Meyer initially told reporters that was a "complicated question".
    Maurizio Sarri gives an ultimatum to ‘this’ Chelsea senior pro

    Maurizio Sarri gives an ultimatum to ‘this’ Chelsea senior pro

    But Maurizio Sarri confirmed he picked up a knock during the match and was therefore an absentee at Stamford Bridge on Sunday. 'He is a good player with a high quality, but I want more from him, ' said Ranieri.


Popular

Kate Middleton goes full glamour in Princess Diana's favorite tiara
Kensington Palace has broken its silence over media reports of an alleged feud between Meghan Markle and Kate Middleton . Before she became the Duchess of Sussex, Markle starred on the US legal drama Suits for seven seasons.

George H.W. Bush’s funeral and memorial services plan
Mayor Sylvester Turner is hosting Monday evening's event featuring music and community leaders in front of City Hall. President Trump has ordered the federal government to be shut down Wednesday for a national day of mourning.

Wall Street sinks on worries over slowing growth, trade truce outcome
On Monday, Kudlow said there was an "assumption" that China would eliminate auto tariffs, not a specific agreement . What is mentioned by both sides is China's agreement to more strongly control the trade in the opioid Fentanyl.

No, 'Friends' isn't leaving Netflix. Here's the $100 million reason why
Netflix might've disappointed us by canceling Daredevil , but it delivered some good news on the Friends front on Monday. TV, who produced the massively successful sitcom, did respond to THR , while a Netflix spokesperson declined to comment.

Syrian air defense targets several objects above Quneitra
The side behind the attack is not yet clear, but Israel has repeatedly targeted military positions in Syria, including in Kisweh. An unconfirmed report from Ria Novosti said that an Israeli Air Force jet and four Israeli missiles were taken down.

Alabama's win over Georgia likely puts Sooners in College Football Playoff
With the game tied and the ball at midfield with 3 minutes left, Georgia could've punted the ball and pinned the Tide deep. The LSU Tigers beat the Bulldogs by 20 in October. "We'll treat it just like a playoff game", junior safety J.R.

Engagement ring lost moments before proposal found by police
The NYPD Emergency Services could not immediately recover the ring, and the couple left. The bad news, they now need your help to identified the lucky/unlucky couple.

Kremlin Says Putin, Trump Will Meet on Sidelines of G-20
At the time, several Ukrainian Navy ships tried to sail through the strait without seeking the proper permission, Moscow said. Responding to the border violation, Russia's border guard have seized the vessels and detained their crews.

South Koreans go to North to explore railway reconnection
A North Korean soldier defected to South Korea early on Saturday, the South Korean military said. However, a North Korean soldier has now achieved this feat.

World Health Organization charge African countries to improve funding on HIV testing, treatment
Graven went on to say, "People aren't giving it the thought they used to because we don't see people dying like they were". Among young people aged 15-24, new infections declined from 28,800 in 2010 to 17,700 in 2017.