2026-10-07
At a New York trial on October 7, a former HSBC compliance executive testified that after HSBC decided in 2017 to end its cooperation with Huawei, Huawei attempted to modify the draft termination letter, trying to portray its unilateral withdrawal as a bilateral consensus, but HSBC refused. The HSBC witness also said that in 2016 the bank discovered that Huawei was paying US dollars to sanctioned regions such as Iran through intermediary agencies.