News on American investigation of Huawei possible sanctions violations rise tension

April 26, 2018 - By Edwin Martin

News on American investigation of Huawei possible sanctions violations rise tension

News on American investigation of Huawei possible sanctions violations rise tension

While the USA authorities fly to China in hope to make a deal, news on the new investigation of possible violations of Iran sanctions by Huawei Companies provokes new tension at the market.

Steven Mnuchin, American Treasury secretary, together with Robert Lighthizer, Trade Representative of the USA, fly to the Chinese capital, Beijing. According to the previous data they want to reach an agreement that would stop the US from increasing tariffs on Chinese import on 150 billion dollars.

FBI agents now are searching for any unregistered or suspicious transaction made by Huawei Company, which is the biggest in China producer of tech equipment. The information comes from sources familiar with the whole investigation process.

FBI is joined by OFAC or Office of foreign assets control in the department of Treasury, as well as Commerce Department.

Huawei has already violated sanctions rules. And now there is another inquiry grew up, connecting to ZTE Corp, another tech company from China.

After the first news on investigation appeared suppliers of Chinese company’s equipment began to lose its increase in the market. Chinasoft International has lost 21 percent in one day, during the early trades at the market. Sunny Optical Technology Group lost 10 percent on Thursday.

The spokesperson of Huawei in Shenzhen, Glenn Schloss, does not want to comment the situation with the possible probes.

According to the official statement, Huawei completely responds to all the regulations and laws of countries where it sells its products.

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