EU adds HTX to Russia sanctions but stops short of the UK's asset freeze

The European Council named crypto exchange HTX, formerly Huobi, in its 21st package of restrictive measures against Russia, adopted July 23 and published Friday.

The Council decision places HTX among 18 entities providing crypto-asset or payment services from outside the Union that officials say are significantly frustrating the purpose of the bloc’s prohibitions.

The stated targets are channels that keep money moving to Moscow, whether by connecting to the Russian central bank’s financial-messaging system or by working around existing restrictions.

The wider package runs to 218 listings covering 48 individuals and 170 entities, per TRM Labs, the largest single batch in four years, and freezes assets or bans transactions for 94 banks and major financial institutions.

EU targets HTX without imposing a full asset freeze

The measures taken by the EU against HTX do not constitute a full designation and do not include any freeze on assets. The effect that they have is to prevent transactions between the exchange and EU-based entities from being conducted.

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