The U.S. has formally asked Canada to extradite Huawei CFO Meng Wanzhou on charges of financial fraud and violating U.S. sanctions on Iran, the Globe and Mail reports.

Why it matters: The extradition request comes one day after the Department of Justice unveiled a set of indictments against Meng and other individuals associated with Huawei. Meng is accused of attempting to circumvent sanctions in 2007 by lying about its ownership of the Iranian business Skycom and about selling its interest in the company. Canadian Federal Justice Minister David Lametti has until March 1 to decide whether to comply with the request, according to the Globe and Mail.

Go deeper: The Huawei charges are tangled up with U.S.-China trade talks