Huawei CFO released on bail in Canada

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A Canadian court on Tuesday granted bail to Huawei chief financial officer Meng Wanzhou, who is being held on an extradition warrant issued by the U.S. for allegedly breaking its sanctions on Iran.

Justice William Ehrcke at the court hearing granted bail to Meng, on condition of a 10-million-Canadian-dollar (7.5 million U.S. dollars) financial pledge and five guarantors, according to reports.

Meng must remain in Canada and be subject to surveillance by a combination of security guards and technology, including GPS ankle bracelet, 24-hour security detail, when she leaves her Vancouver residence. She has also surrendered her passport.

The daughter of the Huawei founder was taken into custody in Vancouver on December 1 at the request of the U.S. government, while traveling from Hong Kong to Mexico via Canada.

Meng Wanzhou, chief financial officer of Huawei Technologies. /VCG Photo

The move was part of a U.S. investigation into an alleged scheme to use the global banking system to evade U.S. sanctions against Iran. However, the U.S. has not yet provided any evidence to prove the allegations.

China has condemned the detention and demanded Canada to release Meng.

"Our request is very clear: Canada should correct this wrong practice and release Meng Wanzhou immediately," said Lu Kang, a spokesperson for the Chinese foreign ministry.

"We have every confidence that the Canadian and U.S. legal systems will reach a just conclusion in the following proceedings," Huawei said in a statement, reiterating the company follows all the applicable laws and regulations where it operates.

On Tuesday, U.S. President Donald Trump noted in an interview with Reuters he would intervene in the Justice Department's case against Meng out of national security interests.

"If I think it's good for what will be certainly the largest trade deal ever made – which is a very important thing – what's good for national security – I would certainly intervene if I thought it was necessary," Trump said.

Meng is due back in court on February 6, 2019.