Huawei founder's daughter and company CFO Meng Wanzhou arrested in Canada

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The Canadian Justice Department told The Globe and Mail in a statement that "Wanzhou Meng was arrested in Vancouver on December 1". He added that the publication ban was sought by Meng.

It comes as Huawei is said to be facing a probe by the U.S. Justice Department for violating sanctions against Iran.

"The ban was sought by Ms. Meng". "The company believes the Canadian and USA legal systems will ultimately reach a just conclusion", it said.

Huawei added that it "complies with all applicable laws and regulations where it operates, including applicable export control and sanction laws and regulations of the UN, US and European Union".

Earlier this year, Reuters news agency reported that USA prosecutors in NY were investigating whether Huawei violated American sanctions against Iran by shipping American-origin products to Iran in violation of US export and sanctions laws.

Ms. Meng is a rising star at Shenzhen-based Huawei, now the world's second-largest maker of telecommunications equipment.

Huawei, in that statement, also said the company complies with all applicable USA and Canadian laws.

U.S. media have reported that the United States is investigating Huawei for potential violations of USA sanctions against Iran.

According to The Globe and Mail, it is alleged that Meng attempted to evade US trade sanctions against Iran.

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USA stock futures dropped sharply on the news, which has presented a new twist in sensitive trade negotiations between Washington and Beijing.

She was detained while transferring between flights, the firm said.

Meng, the 46-year-old daughter of Huawei founder Ren Zhengfei, has previously been suspected of involvement in Huawei's alleged ties to Iran.

In June, Canada's Globe and Mail newspaper reported that United States lawmakers warned the Canadian government that Huawei posed a major cybersecurity risk.

News of the arrest came on the same day that BT announced it would be removing Huawei-manufactured equipment from its 3G and 4G mobile networks.

The U.S.is anxious about the extent to which Chinese-made equipment is used in the telecommunications sectors of countries that host American military bases. Its equipment is banned in the U.S. and Australia and in the United Kingdom it is rigorously tested by the Government at a guarded facility.

In 2011, the American government stopped Huawei from purchasing US server technology company 3Leaf's assets, for national security reasons. Huawei makes telecom equipment and personal electronics sold worldwide.

Founded in China more than 30 years ago, Huawei's revenue in 2018 exceeded $100billion for the first time in its history, according to CNBC.

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