EU Adds HTX to Russia Sanctions Two Months After UK's Action Against Crypto Networks

The European Union has added cryptocurrency exchange HTX to its latest package of sanctions against Russia, expanding efforts to restrict financial networks that European authorities say have helped Moscow bypass existing restrictions.

The package was adopted yesterday (Thursday) and covers Russian banks, cryptocurrency service providers, oil traders, the so-called shadow fleet and energy revenues. A list released on Friday names 18 crypto-related companies that the EU said had assisted Russian users in evading sanctions imposed over the war in Ukraine.

EU Action Follows Earlier UK Sanctions

The decision follows similar action by the United Kingdom in May. At that time, British authorities sanctioned HTX together with 17 other crypto-related businesses, saying they formed part of financial networks supporting Russia's economy.

Earlier this month, Finance Magnates reported that one of those firms, EXMO, started winding down operations after the UK sanctions disrupted access to custodians and banking partners.

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