Huawei shifts US investments to Russia: Report


Huawei is shifting its US investments to Russia after the Trump administration imposed restrictions on the Chinese tech giant.

“After the US included us in Entity List, we transferred our investment to Russia, expanded Russian scientists’ team, and hiked salary of Russian talent,” Huawei founder Ren Zhengfei said, according to daily Global Times.

Washington has slapped restrictions on many Chinese companies, including tech giant Huawei, for their alleged links to the Communist Party of China.

Huawei 5G went live in Russia last year after it began its first operations in 2012 in the country.

The Chinese tech giant went live in Russia after an agreement was signed between China's President Xi Jinping and his Russian counterpart Vladimir Putin at the 2019 St Petersburg International Economic Forum.

Russia has also criticized the arrest of Huawei Chief Financial Officer Meng Wanzhou by Canada at the behest of the US in December 2018.

Moscow called it “an example of an exterritorial appliance of national jurisdiction by the US”.