Economy

Canada arrests CFO of Chinese tech giant Huawei

Canada arrests CFO of Chinese tech giant Huawei

Meng Wanzhou, daughter of company founder Ren Zhenfei, and a vice chair of Huawei Technologies.

He said Meng is sought for extradition by the U.S. "The ban was sought by Ms. Meng", McLeod said.

The statement said that Meng was taken into custody when she was transferring flights in Canada.

Reuters reported in 2013 that Ms. Meng served on the board of a Hong Kong-based Skycom Tech Co.

However, according to the Globe and Mail, she was arrested on suspicion she violated USA trade sanctions against Iran.

United States lawmakers have also repeatedly accused the company of being a threat to U.S. national security, arguing that its technology could be used for spying by the Chinese government.

Reports of the high-profile arrest come after China issued an upbeat yet vague promise Wednesday to carry out a tariff cease-fire with Washington, giving little to no details that might dispel confusion about what Presidents Xi Jinping and Donald Trump agreed to during the G-20 Summit in Argentina.

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

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President Donald Trump previously threatened to withdraw from the treaty signed by Ronald Reagan and Soviet leader Mikhail Gorbachev.

A spokesman for the US Justice Department in the Eastern District of NY - which Huawei said had brought the charges - declined to comment.

The statement, which said it was to be attributed to Huawei headquarters, added that Huawei complies with all applicable laws and regulations where it operates, including applicable export and sanction laws and regulations of the United Nations, US and European Union.

Reuters reported in April that usa authorities were investigating what has grown to be one of the world's largest smartphone manufacturers for the "alleged shipping of us -origin products to Iran and other countries in violation of us export and sanctions laws".

The US imposed harsher sanctions on Iran earlier this year, as the Trump administration looked to restrict worldwide business with the Iranian government.

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

Huawei has repeatedly insisted Beijing has no influence over it.

New Zealand and Australia have stopped telecom operators from using Huawei's equipment in new 5G networks because they are concerned about possible Chinese government involvement in their communications infrastructure. BT still planned to use Huawei phone mast antennas and some other products.