Sunday, September 28, 2025
24.6 C
Lagos

Huawei Probed by US for Sanctions Busting

China’s Huawei has been served with a subpoena by the US Commerce Department investigating allegations that it may have broken US sanctions on Cuba, Iran, North Korea, Sudan and Syria.

The subpoena calls for Huawei to turn over information related to shipments to those countries over the past five years.

Huawei has not yet been accused of wrongdoing. In a statement, it said that it was committed to complying with laws and regulations where it operated.

“In particular, Huawei has a strict code of conduct, rigorous training, and detailed policies relating to export control compliance and actively cooperates with the relevant government agencies, including the Department of Commerce, regarding Huawei’s compliance with export control laws,” a company spokesperson said in an email.

The investigation appears to be similar to one which ensnared ZTE, which sold equipment to the embargoed countries based on components supplied by US suppliers.

The investigation into ZTE highlighted an unnamed rival company which ZTE executives were said to be copying in their efforts to sell to the embargoed countries.

The semi-official China Daily newspaper cited an official as claiming this was a sign of US protectionism against Chinese rival companies.

spot_img
spot_img

Hot this week

AIICO Deepens Bond with Retirees, Holds Annuity Forum in Lagos, PH

Mr. Gbenga Ilori, Head, Retail Business at AIICO, in...

Sovereign Trust Insurance Holds 30th AGM

L-R: Eric Balogun, Independent Director, Emi Faloughi, Director, Kayode Adigun,...

Unity Bank Shareholders Approve Merger with Providus Bank

  EGM: From left: Mr. Usman Abdulkadir, Executive Director, Risk...

NNPCL: Ogoni Re-entry is a Beacon of Reconciliation through Collaboration

The re-entry into Ogoniland marks a historic turning point...

NLNG, NCDMB Celebrate 122 Graduates of Train 7 HCD Training Program

NLNG in collaboration with the Nigerian Content Development and...

Topics

Addis Ababa Leads Africa in Hotel Room Rates

Addis Ababa, Ethiopia, posted Africa’s highest average daily rate...

TVS King Deluxe Plus iTouch 3Wheeler Unveiled in Enugu, Asaba

L-R - Taiwo Akinpelu, Divisional Head of Marketing at Simba TVS; Chief...

Breaking News: Etisalat Now Open for Foreign Investment

Foreigners can now investment in Etisalat as the UAE government has lifted restrictions which had blocked foreign investors from buying a stake in the country's largest telco, Etisalat. There is however a 20 percent limit on how much of the company can be owned by foreigners. Currently, Etisalat is 60 percent owned by the government, with a 40 percent stake listed, but restricted to UAE nationals. "The federal government decided to lift the restriction of Etisalat stock ownership by local institutions, foreign institutions and expatriate individuals provided that such ownership does not exceed 20 percent," Etisalat said in a statement to Abu Dhabi Securities Exchange. Etisalat added that the Emirates Investment Authority (EIA) does not intend to reduce its 60 percent stake at the moment.

Africa, ME Banks Spent $13bn on ICT in 2019

  Africa and Middle East’s banking and finance industry spent...

Sovereign Trust Insurance Reports N10bn Gross Premium in Q3 2021

Mr. Olaotan Soyinka Managing Director/CEO Sovereign Trust Insurance Plc Despite...

Is There a Hidden Liquidity Crisis in the Nigerian Banking System?

By Elvis Eromosele The Nigerian banking system, once celebrated as...

Sterling Bank, AI in Nigeria to Launch Maiden Report on AI Adoption in Nigeria

Sterling Bank, in partnership with AI in Nigeria, unveils...

‘MTN Nigeria Will Not Go Public in April 2018’

Despite the recent assurance from Mr. Rob Shuter, Group...
spot_img

Related Articles

Popular Categories

spot_imgspot_img