EU Includes Crypto Exchange HTX in Sanctions Against Russia
As part of the 21st sanctions package, the European Union has banned transactions with 18 crypto and payment entities, including HTX, which was already sanctioned by the United Kingdom.
As part of the 21st sanctions package, the European Union has banned transactions with 18 crypto and payment entities, including HTX, which was already sanctioned by the United Kingdom.
The European Union has added the crypto exchange HTX, formerly Huobi Global, to the list of sanctioned entities as part of the 21st package of measures against Russia, agreed and published on Thursday, July 24, 2026. The European Council amended existing measures to include HTX in a list of 18 entities providing cryptocurrency or payment services that, in the EU's assessment, significantly undermine the purpose of the bans imposed against Russia.
HTX is not the first time it has faced Western regulators. The United Kingdom sanctioned this exchange back in May 2026, stating there were "reasonable grounds to suspect" that HTX had supported the Russian government by using financial services and assets of sanctioned entities. According to a report by analytics firm Global Ledger, HTX processed approximately $21 billion (about €19.3 billion) in so-called high-risk crypto transactions over the past five years, of which nearly $8 billion (about €7.4 billion) was linked to Russian actors and darknet markets. HTX previously told CoinTelegraph that "regulatory compliance remains an absolute priority" and that it would "proactively monitor and strictly adhere to regulatory frameworks in all jurisdictions."
This sanctions package also grants Brussels broader powers in combating the circumvention of sanctions via cryptocurrencies. EU citizens are now prohibited from conducting transactions with 11 unnamed crypto operators and 94 banks and financial institutions. According to the portal Lider, the EU has discovered that these crypto platforms mainly operate in Belarus and Nigeria, functioning as channels for funneling money between Russia and countries with which business is blocked. A key novelty is that Brussels is no longer limited to sanctioning individual companies but now has the authority to ban crypto services to an entire nation or jurisdiction if it is deemed a hub for laundering Russian financial transactions.
This package is the latest in a series of measures to tighten the net around crypto services linked to the Russian ruble. Previously, the EU designated the stablecoin A7A5, which acted as a bridge between the sanctioned exchanges Garantex and Grinex, followed by the token RUBx and the digital ruble. In its rationale for the measures, the European Council states that "the Union has repeatedly taken steps to identify financial institutions and entities that facilitate the continued financial support of Russia in its aggressive war against Ukraine." The package also includes 32 banks and the Moscow Exchange, whose assets owned by the EU have been frozen.
In addition to the crypto measures, the 21st sanctions package includes a ban on entry to the EU for former and current Russian fighters who participated in the war in Ukraine since February 24, 2022. The measure is planned to apply from October 2026, but it is not yet operational as it requires additional work, including defining the type of evidence needed to prove that someone actually participated in combat. The ban will only apply to short-term visas, following objections from Italy and France, which are concerned about losing tourism revenue. Italy issued over 160,000 Schengen visas at its Russian consulates last year, and France issued more than 156,000.
European Commission President Ursula von der Leyen confirmed as part of the package announcement the freezing of the price cap on Russian oil at $44.10 per barrel (about €40.6), aiming to prevent Russia's war machine from profiting from potential market shocks. The package also for the first time covers vessels of Russia's so-called shadow fleet, which Russia uses to circumvent existing oil sanctions. As an EU member state, Croatia is obliged to implement all measures from this package, meaning that Croatian citizens and institutions are also subject to the ban on transactions with the listed entities.
