01-31-2022, 05:30 PM
![[Image: huawei-afp.jpg]](https://media.thevibes.com/images/uploads/covers/_large/huawei-afp.jpg)
STOCKHOLM – Huawei said yesterday it has initiated arbitration proceedings against Sweden under the World Bank Group after the Nordic country banned the Chinese tech giant from rolling out its 5G products.
“The Swedish authorities’ decision to discriminate against Huawei and exclude it from the 5G roll-out has significantly harmed Huawei’s investment in Sweden, in breach of Sweden’s international obligations,” the Chinese company said in a statement to AFP.
The company had therefore “initiated arbitration proceedings” under the World Bank Group’s International Centre for Settlement of Investment Disputes “against the Kingdom of Sweden following a number of measures taken by the Swedish authorities targeting directly Huawei’s investments in Sweden and excluding Huawei from the roll-out of 5G network products and services in the country”, Huawei added.
Huawei did not specify what damages it was seeking, but according to public broadcaster SVT, the initial sum sought was 5.2 billion Swedish kroner (RM2.3 billion), but it could end up being much higher.
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