Crypto24 July, 20263 min read
European Council Adds HTX, Formerly Huobi Global, to Russia Sanctions List
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EU adds HTX ( Justin Sun–owned, formerly Huobi) to Russia sanctions list. EU package lists HTX among 18 entities providing crypto or payment services.
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EU sanctions HTX
The European Council added cryptocurrency exchange HTX, formerly known as Huobi Global, to its Russia sanctions list as part of a package adopted on Thursday that amended previous measures “in view of Russia’s actions destabilizing the situation in Ukraine.” The EU said the 18 entities included HTX provide “crypto-assets services or payment services established outside of the Union that are significantly frustrating the purpose of the prohibitions” against Russia. Reuters reported that HTX was sanctioned as part of the bloc’s latest effort to tighten pressure on Russia’s financial system, and that the list was made public on Friday.
The EU authorities said they have identified institutions providing crypto-assets or payment services that undermine the objectives of sanctions against Russia and banned all transactions with EU operators. The sanctions were imposed the same day the EU announced measures under MiCA banning Belarusian nationals and residents from owning, controlling or managing crypto-related businesses.
HTX response and UK link
EU officials said the bloc has repeatedly taken measures to identify entities providing crypto-asset services or payment services that facilitate a continued financial lifeline for Russia’s war of aggression against Ukraine, including by connecting to the system for transfer of financial messages of the Central Bank of the Russian Federation. In response to the UK sanctions, HTX previously told Reuters that “Regulatory compliance remains [its] absolute top priority” and said it would “proactively monitor and strictly adhere to regulatory frameworks in all jurisdictions.” The UK government imposed similar sanctions on HTX in May, saying there were “reasonable grounds to suspect” that the exchange supported Russia’s government by using the financial services and funds of sanctioned entities.
Reuters also reported that the EU’s sanctioning of HTX does not amount to a full designation and does not include an asset freeze, while the restriction places HTX within a group covered by transaction controls. The EU action also followed the UK’s May designation of HTX as part of what London called “shadow financial systems” underpinning Russia’s war economy.
What changes next
The EU package targets more than just crypto exchanges, covering banks, cryptocurrency networks, oil traders, the shadow fleet and Russian energy revenues, according to Reuters’ description of the sanctions package.
Reuters reported that HTX was included in a list of 18 companies providing crypto services which the EU said helped Russians evade sanctions, and that HTX did not immediately respond to a request for comment sent via email.
The EU measures also extended transaction restrictions to 14 crypto-related platforms operating from Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus, with the Council saying the services were linked to financial channels used by Russia to bypass existing restrictions.
A separate Belarus measure adopted through Council Decision (CFSP) 2026/1847 will prohibit Belarusian nationals and residents from owning, controlling or managing crypto-asset service providers regulated under the Markets in Crypto-Assets framework beginning Aug. 25.
The Reuters reporting also said the EU’s latest sanctions package was adopted on Thursday and that the bloc’s 21st sanctions package includes 218 individual listings, including 48 people and 170 entities.