The report said the U.S. had been keeping a close eye on Huawei's alleged shipping of United States products to Iran and other countries in violation of sanction laws.
Earlier this year, it barred U.S. companies from exporting to Chinese telecommunications firm ZTE over violations of the Iranian sanctions, effectively shutting down the firm. "The ban was sought by Ms. Meng", continued the statement. "The company believes the Canadian and US legal system will ultimately reach a just conclusion".
The woman was apprehended on Saturday and is awaiting the bail hearing scheduled for Friday, Canada's Department of Justice spokesman Ian McLeod told The Globe and Mail.
"Recently, our corporate CFO, Ms. Meng Wanzhou, was provisionally detained by the Canadian Authorities on behalf of the United States of America, which seeks the extradition of Ms. Meng Wanzhou to face unspecified charges in the Eastern District of NY, when she was transferring flights in Canada", an official Huawei statement said. At this time, the department spokesperson can't share more details because Meng requested a publication ban. "The ban was sought by Ms Meng".
Huawei Technologies, launched in 1987 in Shenzhen China, has been the largest telecommunication equipment producer in the world since 2012. HP said it prohibits the sale of its products to Iran.
In April, the Wall Street Journal reported that Huawei was being investigated by NY prosecutors on suspicion of breaking the Iran sanctions. Huawei has said neither it nor Skycom ultimately provided the HP equipment.
It is understood a National Intelligence Law passed by China a year ago that obliges Chinese citizens and companies anywhere in the world to cooperate with its security services was one reason for the block.
Meng is now facing extradition to the United States.
As part of the sanctions, the USA halted the import of Iranian oil, cutting off a key source of revenue for the nation. New Zealand followed suit in November, but said the issue was a technological one. This agreement remains in place today.
"We have already completed a number of successful 5G trials across different sites in London and we will continue to work with BT in the 5G era".
The founder Ren was a People's Liberation Army soldier before starting the company and opponents say it retains links with China's security services.