Huawei chief financial officer arrested in Canada

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Authorities in Canada have arrested Meng Wanzhou, chief financial officer of Chinese tech giant Huawei.

Meng is the daughter of Huawei's founder and CEO Ren Zhengfei, and also serves as deputy chair on Huawei's board.

She will face a bail hearing on Friday, the spokesman for Canada's Department of Justice said.

McLeod says as there is a publication ban in effect and he could not provide any further details.

Huawei confirmed the arrest in a statement and said that it has been provided little information of the charges against Meng, adding that it was "not aware of any wrongdoing by Ms. Meng". Meng adopted her mother's surname.

A Canadian source with knowledge of the arrest said US law enforcement authorities are alleging that Ms. Meng tried to evade the USA trade embargo against Iran but provided no further details.

In April, the Wall Street Journal reported the U.S. Department of Justice was investigating whether Huawei violated U.S. sanctions against Iran.

USA authorities are investigating whether Chinese tech giant Huawei violated sanctions on Iran.

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The arrest could drive a wedge between China and the United States just days after President Donald Trump and President Xi Jinping held a meeting in Argentina where they agreed to steps to resolve a brewing trade war.

Wanzhou Meng was arrested in Vancouver on Saturday, it emerged on Wednesday night. "The company believes the Canadian and US legal systems will ultimately reach a just conclusion", the statement said.

The report adds, via an unnamed source, that the US believes Meng was trying to circumvent the current USA trade embargo with Iran, although details about this alleged violation were not revealed.

China's Huawei-the world's largest supplier of wireless networking equipment-has played a starring role in the brewing trade war between the United States and China.

According to CNBC, the United Kingdom has also blocked the tech giant from providing key equipment for the development of a 5G network by telecommunications firm BT.

This November, New Zealand's government banned its major telecommunications company Spark from using Huawei's equipment, which is described to "have a serious national security risk".

In July, Huawei wrote to the US Federal Communications Commission (FCC) arguing that the nation should not miss out on its market-leading technology, and pointed out that its exclusion would drive up consumer costs for mobile services.

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