Huawei's Sabrina Meng Wanzhou has been granted bail in Canada

• Meng Wanzhou, the daughter of Chinese telecom equipment manufacturer Huawei's founder and its CFO, has been granted bail by a Canadian court.
• Meng has been at the heart of deteriorating China-US relations after she was arrested by Canadian authorities at the behest of Washington following her alleged involvement in over five years of Iran sanction violations.
• A judge in British Columbia has set bail at $7.4 million, according to the BBC.

Sabrina Meng Wanzhou, chief financial officer of Chinese telecom company Huawei and the daughter of its founder Ren Zhengfei, has been granted bail by a Canadian court, on the third day of tense bail hearings in Vancouver.

Meng has been at the center of a global firestorm after she was arrested by Canadian authorities in Vancouver airport on December 1, infuriating Chinese netizens and roiling global financial markets.

Meng faces US fraud charges following her alleged involvement in over five years of Iran sanction violations. US prosecutors allege she used Skycom a subsidiary of Huawei to evade sanctions, and that she misled banks about the companies' relationship.

A judge in Vancouver set bail at $7.4 million (C$10m including C$7m in cash), the BBC reported.