ICBC Helped Huawei Move $1.3 Billion Out of London Days After US Indictment

ICBC’s London branch urgently transferred $1.3 billion for Huawei days after US prosecutors unsealed an indictment accusing the Chinese technology company of fraud and violating sanctions on Iran. Confidential records reviewed by investigators indicate that bank officers were called in during a holiday weekend to process the transaction. The operation was reportedly legal but bypassed ordinary internal checks, prompting concerns about political pressure, compliance failures, and the role of Chinese state banks in supporting strategically important companies around the world