Since 2019, the United States has restricted Huawei's access to American technology (Reuters)
A long-running US Justice Department criminal case accusing Chinese technology company
Huawei
of misleading banks about its business in Iran
is
headed to court in January 2026.
At a meeting - yesterday, Thursday - in New York, Alexander Solomon, a senior official in the ministry, told an American judge: “The settlement discussions have ended in a dead end. We believe that it would be wise to set a trial date.”
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The judge said she thought it would be good for the trial to start at the beginning of January 2026.
The case that led to tense relations between the United States and China began in 2018 with an indictment that led to the arrest of Meng Wanzhou, Huawei's chief financial officer, in Vancouver, Canada, under a US arrest warrant.
As part of the 2021 agreement, the charges against Meng, the daughter of the company's founder, were cancelled.
Solomon said prosecutors expect the trial to last between 4 and 6 months.
The indictment against Huawei
Huawei was accused in 2018 of bank fraud and misleading HSBC and other banks about its business in Iran, which is subject to US sanctions.
In 2020, the Justice Department added additional charges to the case, including that Huawei conspired to steal trade secrets from six American technology companies and helped Iran track down anti-government protesters in 2009.
Since 2019, the United States has restricted Huawei's access to American technology, accusing the company of engaging in activities that harm American national security, which Huawei denies.
Strong revenues for Huawei
Despite the US sanctions, the Chinese company Huawei Technologies recorded its fastest growth in 4 years in 2023, amid a recovery in the consumer sector and income from new businesses such as smart car components, which accelerated its recovery from these sanctions.
Revenues in 2023 increased by 9.63% from the previous year and reached 704.2 billion yuan ($97.48 billion). However, these revenues are still lower than the peak recorded in 2020 of 891.3 billion yuan.
Source: Reuters