FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Reports are coming out that two Canadian citizens arrested in the aftermath of the arrest of Meng Wanzhou, chief financial officer (CFO) of the Chinese technology giant and the daughter of the pounder, by the Canadian authorities, has now been formally charged with espionage, which carries a death penalty in China. Ms. Meng was arrested in response to the United States’ extradition request. In the U.S., she is charged with facilitating the violation of U.S. sanctions in the Middle East.
China had officially protested the decision to arrest Ms. Meng, and after which two Canadians were arrested - Michael Spavor, and Michael Kovrig. Mr. Spavor is the director of Paektu Cultural Exchange, an organization that promotes investment and tourism in North Korea. He is quite well known in North Korea, while Mr. Kovrig is a former Canadian diplomat.
Incidentally, the decision to charge these two men came just after the United States’ announced a ban citing national security, on Huawei Technologies Co Ltd and 70 affiliates from doing business with U.S. companies, which would cripple the company.
As the United States continues to take a tougher stance on Huawei, China possibly fears tough treatment to Ms. Meng, who was released on $10 million bail and is not allowed to leave the country until the decision on extradition is made.
However, Chinese foreign ministry have firmly rejected the idea that these two arrests are anyhow connected, who added, “According to Chinese prosecutors' approval, Michael Kovrig, due to being suspected of crimes of gathering state secrets and intelligence for foreign (forces), and Michael Spavor, for being suspected of crimes of stealing and illegally providing state secrets for foreign (forces), have in recent days been approved for arrest according to law…….We always act in accordance with the law, and we hope that Canada will not make irresponsible remarks on China’s legal construction and judicial handling,"
