Economy

Canada arrests Huawei CFO on request of USA authorities

Canada arrests Huawei CFO on request of USA authorities

Canadian law enforcement has arrested Wanzhou Meng, Huawei's global chief financial officer, on the suspicion that she violated US trade sanctions against Iran, according to a Globe and Mail report.

In addition to serving as CFO, Meng is the daughter of Huawei founder Ren Zhengfei and is the deputy board chair.

Meng Wanzhou 'was arrested in Vancouver on December 1, ' a statement says. He added that the publication ban was sought by Meng.

Her detention comes after United States authorities opened an investigation into suspected violations of Iran sanctions by Huawei, one of the world's largest telecommunications equipment and services providers.

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She was arrested because she attempted to evade the trade embargo placed by the United States on Iran, The Globe and Mail reported, citing a Canadian source with knowledge of the arrest.

Both The Global And Mail and South China Morning Post previously reported that Meng had been arrested on suspicion of violating the US's trade sanctions on Iran. Meng...to face unspecified charges in the Eastern District of NY, when she was transferring flights in Canada.

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.

Huawei, among the world's largest telecommunications equipment makers, has previously stated it abides by "all applicable laws and regulations where it operates, including the applicable export control and sanction laws and regulations of the UN, US and European Union".

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The US later replaced the ban with a fine and governance changes.

Wanzhou Meng, Huawei's chief financial officer, was reportedly arrested in Canada on Saturday.

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

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

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GCSB Minister Andrew Little said the decision to turn down the overseas network provider was because the technology was too risky - not because the company is Chinese.