Two large British banks are among those ensnared in the controversy over Huawei Technologies Co., which escalated over the weekend after the Chinese government warned Canada it would face “severe consequences” if it didn’t release the Chinese telecommunications giant’s finance chief. Canada this month arrested Meng Wanzhou at the behest of U.S. authorities, who are seeking her extradition over allegations she misled banks about Huawei’s business dealings with Iran to skirt international sanctions against that country.

Source: Wall Street Journal December 09, 2018 23:26 UTC