This seems likely. Any officer of the company might do in this circumstance. She might be the only one currently accessible in a country friendly to US extradition.
I'm guessing this is just a continuation of the trade war we've been having with china and we told the canadians to arrest the CFO to send a message to china. She was probably targeted because she was important enough to matter but not important enough to go to war over.
It'll be interesting how china responds. I doubt china would go after one of our execs but I wouldn't want to be a canadian executive in china.
If the basis of extradition is fraud by a corporate officer (which seems to be one of the more likely offenses in a trade sanctions case actually covered by the extradition treaty, as sanctions violations themselves are not), then the question is how many corporate officers of Huawei are in Canada and exposed to extradition?
If the whole company is suspected of breaking the embargo, why is just the CFO arrested? Was she just the one they could get?
Also, it seems weird that Huawei can sell their own products to Iran but not American products they own.