Huawei CFO Meng Wanzhou was released from house arrest in Canada after she reached an agreement with U.S. prosecutors to end a bank fraud case against her, a move that could relieve a a point of tension between China and the United States
about Huawei, Hong Kong-registered company Skycom and Meng figured prominently in the U.S. criminal case against her. Reuters reported that Skycom had offered to sell at least 1.3 million euros worth of embargoed Hewlett-Packard computer equipment to Iran's largest mobile-phone operator in 2010.
Huawei was placed on a U.S. trade blacklist in 2019 that restricts sales to the company for activities contrary to U.S. national security and foreign policy interests. The restrictions have hobbled the company, which suffered its biggest revenue drop in the first half of 2021, after the U.S. supply restrictions drove it to sell a chunk of its once-dominant handset business before new growth areas have matured.
A Canadian government official said Ottawa would not comment until the U.S. court proceedings were over.Huawei has become a dirty word in Washington, with China hawks in Congress quick to react to any news that could be construed as the United States being soft, despite Huawei's struggles under the trade restrictions.
Senior U.S. officials have said that Meng's case was being handled solely by the Justice Department and the case had no bearing on the U.S. approach to strained ties with China.
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