Rabat, June 9 -- In a standoff deemed a "tech Cold War," Huawei secured a contract with Russia's MTS network operator this week in order to develop a 5G network over the coming year.

Russian sovereign wealth fund says US allegations that Huawei poses a national security threat are unproven and unfair. The head of Russia 's sovereign investment fund has now urged the US to back-up those claims.

Speaking to CNBC's Geoff Cutmore at the St Petersburg International Economic Forum (SPIEF), Kirill Dmitriev, the chief executive of the Russian Direct Investment Fund (RDIF), said the US had failed to provide evidence that Huawei actually brings a security risk.

Dmitriev was asked if he had concerns about Chinese surveillance. "First of all, it h...