Huawei is under Department of Justice investigation for violating Iran sanctions

The Huawei logo is seen during the Mobile World Congress in Barcelona Spain

The Huawei logo is seen during the Mobile World Congress in Barcelona Spain

"We hope that the USA doesn't take any further steps to damage confidence in the American business environment", Hua said at a regular press briefing.

Investors immediately moved to sell down shares in some of Huawei's suppliers, including Qualcomm which supplies Huawei with processors for their mobile phones. Government reports have also accused both ZTE and Huawei of being security threats to the US. The new sanction, which banned export of any United States hardware or software technology to ZTE, was imposed after the USA government determined that the company lied about the steps it took to correct its actions or punish those involved in violating the sanctions.

Huawei's struggle against the USA government seems to have taken yet another turn.

Shares in display maker BOE Technology slumped as much as 6 percent on Monday, even after the firm said it had not received any official information regarding USA sanctions in response to rumors in the market that it would be targeted.




Republican Senators Marco Rubio and Tom Cotton have introduced legislation that would block the U.S. government from buying or leasing telecommunications equipment from Huawei or ZTE, citing concern that the Chinese companies would use their access to spy on USA officials. Neither the Justice Department nor Huawei have confirmed that the investigations are taking place.

"Huawei complies with all applicable laws and regulations where it operates, including the applicable export control and sanction laws and regulations of the UN, US and European Union", spokesman Charles Zinkowski said in a statement.

The Department of Justice (DOJ) is investigating Chinese phone-maker Huawei over whether it violated US sanctions against Iran, The Wall Street Journal reported on Wednesday. For Chinese tech firms to survive in a trade war, the best defense is a good offense. An outright export ban is also improbable, and any punitive measure will have less of an impact on Huawei than on ZTE, said Shaun Rein, managing director of China Market Research Group. The imposition of an export ban against ZTE was widely seen as unusually harsh, considering the company already paid a significant fine. SASAC went on to add that not only do the actions (and sometimesinaction) taken by ZTE harm its own business operations, but also suppliers and other companies that it depends on. The US Senators have raised concerns against the spread of Chinese technologies in the US and have openly called them part of China's surveillance and counterintelligence mechanism.

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