The move came after an Israeli foreign ministry official was quoted by the Haaretz newspaper as saying the Swedish government would oppose further sanctions to protect a deal between the telecommunications group, Ericsson, and the mobile operator, Irancell.
"It is only the surface that has been scraped for metals around the world, " said Magnus Ericsson, a senior partner at Raw Materials Group, a Solna, Sweden-based consultancy.
By supplying many of the state-owned enterprises in China, the retired army officer has built Huawei into the world's second-largest vendor of mobile network equipment behind Sweden's Ericsson, according to market research firm Dell'Oro Group.