EU Slaps Sanctions on HTX Amid Ongoing Russia-Ukraine Conflict

The European Union has added cryptocurrency exchange HTX (formerly Huobi Global) to its list of entities targeted by sanctions against Russia, amid the ongoing conflict in Ukraine. This decision was made as part of a package of measures aimed at preventing financial institutions from facilitating Russia's war efforts.

In an amended decision, the European Council included HTX among 18 entities that provide crypto-asset services or payment services outside the EU, which are 'significantly frustrating' the purpose of the prohibitions against Russia. The country has been facing sanctions globally over its military invasion of Ukraine in 2022.

The EU officials stated that the Union has repeatedly taken measures to identify financial institutions and entities providing crypto-asset services or payment services that facilitate a continued financial lifeline for Russia's war efforts.