Huawei Chief Financial Officer, Meng Wanzhou was arrested in Vancouver last Sunday post charges of violating United States sanctions against Iran. The situation has contributed in further complicating the US-China trade conflict.
Post allegations of violating US sanctions, CFO of the Chinese telecommunication equipment firm, Meng Wanzhou was arrested on December 1. Her arrest by the Canadian forces in Vancouver will be followed by a court hearing on Friday.
The Canadian Ministry of Justice has released a statement informing that Meng Wanzhou “is sought for extradition by the United States, and a bail hearing has been set for Friday.”, adding “As there is a publication ban in effect, we cannot provide any further detail at this time. The ban was sought by Ms Meng,”
According to the United States media, the arrest is likely to be a result of violations of US sanctions against Iran or even North Korea. Experts believe the arrest would only worsen the pre-existing tension between the United States and China.
Deliberations between Beijing and Washington have been in swing for the past three months to resolve the ongoing trade conflict. The arrest can lead to greater stress for the global economy, fueling the anxieties of global investors amid peaking US interest rates.
The USA has been monitoring Huawei’s actions, reportedly, for at least the last 2 years. Sources say Huawei is doubted to be shipping US-origin products to Iran and others, violating United States sanction laws.
On Thursday, Huawei rotating Chief Executive Officer, Guo Ping released a statement asserting, “There has been very little information provided to Huawei on the specific allegations. Huawei is not aware of any misconduct by Ms. Meng”.
