Huawei CFO arrested in Canada for alleged trade with Iran

Trouble

The South China Morning Post also reported that Meng specifically told her company's employees that they could weigh the risks of not complying with laws in some instances. The report did not say what Huawei might be suspected of. A bail hearing for her extradition is set for Friday.

Canada's Justice Ministry has released few details, citing a publication ban called for by Meng.

"This is something that we get from the Justice Department", he said.

Huawei, one of the world's biggest suppliers of network gear used by phone and internet companies, has been the subject of deepening security concerns within the USA government and the governments of countries like Australia and New Zealand.

The pan-European Stoxx 600 index fell more than 3.3 per cent to its lowest level in two years.

Chinese officials on Thursday blasted Meng's arrest - but experts warn more forceful actions, including the possibility of tit-for-tat detentions of high-profile citizens, could be coming.

Chinese Commerce Ministry spokesman Gao Feng said China is confident it can reach a deal during the 90 days that Trump agreed to suspend a scheduled increase in USA import taxes on $200 billion worth of Chinese products.

Beijing has itself frequently been accused by rights groups of rights abuses including unexplained detentions.

The United States has been looking into whether Huawei Technologies Ltd violated U.S. sanctions against Iran since at least 2016 and more recently the company's use of HSBC Holdings Plc to make illegal transactions involving Iran. ZTE, China's second-largest telecoms equipment maker, agreed to pay $1.4 billion in total fines to the USA after Washington slapped a ban in April on purchases of essential American components for seven years to punish the company for Iran sanctions violations.

British Telecom said this week that it would stop using Huawei equipment in its 5G network, the BBC reported, and US lawmakers have lobbied Canada's prime minister to freeze out the Chinese supplier.

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It is not clear whether President Donald Trump knew about the arrest in advance. These include director of the worldwide accounting department, chief financial officer of Huawei Hong Kong and president of the accounting management department, the website said.

The arrest of Sabrina Meng, the chief financial officer of China's largest mobile phone marker, has been condemned by Chinese officials, who are calling for her immediate release.

Political observers are expressing concern in the media that the arrest could damage relations between the United States and China as well as between Canada and China. After the dinner, the two nations announced they would pause any escalation of tariffs and resume trade negotiations for 90 days.

Hours later, at a regular press briefing, Chinese Foreign Ministry Spokesperson Geng Shuang maintained this strong stance.

Both Huawei and ZTE have not only been barred from use by US government agencies and contractors; they have also been mostly locked out of the American market.

Over the summer, Australia barred Huawei from providing 5G technology for wireless networks in the country over espionage fears.

On Wednesday, British phone carrier BT said it was removing Huawei equipment from the core of its mobile phone networks.

Meng's arrest also threatened to inflame disagreements over Iran and Trump's decision to break with other governments and re-impose sanctions over the country's nuclear development. Trump restored access after ZTE agreed to pay a $1 billion fine, replace its executive team and embed a US -chosen compliance team in the company.

US leaders also worry that Beijing is using the growth of Chinese business overseas to gain strategic leverage.

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