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Huawei CFO is arrested in Canada over Iran links

EMBATTLED CHINESE tech giant Huawei has received another blow, after its Chief Finance Officer (CFO) Meng Wanzhou was arrested in Canada.

The board member, who is also the daughter of company founder Ren Zhengfei, was picked up by authorities in the country last Friday, where she is wanted in connection with possible breaches of sanctions against Iran, according to reports from the US, which plans to extradite her. Some reports claim that similar violations have taken place between Huawei and North Korea, though neither are confirmed at time of writing.

The timing of the arrest could not have come at a worse time for Huawei. In the past week, New Zealand has banned Huawei components from its forthcoming 5G infrastructure, whilst in the UK, BT has confirmed that it, for one, will not use the parts either and will retroactively strip them from existing core infrastructure.

Suspicions over Huawei’s links to the Chinese government have made the company a target for suspicion and the US has led the charge to ban its products and services.

Despite being a privately owned company, it is difficult for any Chinese vendor to escape suspicions of links to a regime which is, when push comes to shove, a Communist one, and as such holds a tight leash on all the countries assets and business practices.

Worse still, the continuing negotiations in the US-China trade war have only been set aside in recent days on a temporary basis and this move is likely to be seen by China as extremely inflammatory to the talks.

Huawei has said it knows little of the charges and was “not aware of any wrongdoing by Ms Meng”. A bail hearing is set for Friday, whilst the Chinese embassy in Canada has reacted angrily, lodging complaints with authorities over the arrest of a citizen who was “not violating any American or Canadian law”. μ

Source : Inquirer

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