COLD WAR II: Canada will allow US extradition of Huawei CFO to move forward.

Huawei financial chief Meng Wanzhou is one step closer to facing sanctions-related fraud charges in the US. Canada’s Department of Justice has issued an Authority to Proceed measure that greenlights the extradition process for Meng, making it that more likely she’ll head south. A British Columbia Supreme Court will set the date for the extradition hearing at a March 6th court date where Meng will appear.

Meng will remain under her strict bail conditions throughout the process, including GPS tracking and constant monitoring by security staff. The Justice Department stressed that this wasn’t a trial, and that it didn’t extradite people if it believed the move would violate Canadian civil rights.

The US’ bid to extradite the CFO is part of a larger US legal battle against Huawei, including allegations the firm stole US trade secrets and violated sanctions against Iran.

With capitalism, albeit of the crony variety, fully embraced by China and Russia, this new Cold War (if that’s what it really is) has all kinds of interesting parameters we didn’t get the first time around.