European Union sanctions Justin Sun’s HTX

The Council of the European Union has sanctioned Justin Sun-owned HTX and Huobi Global S.A in a move that it hopes will “further cripple Russia’s economy and war machine.”

HTX and Huobi are now officially on the EU’s “list of credit and financial institutions and entities providing crypto-assets services or payment services established outside of the Union that are significantly frustrating the purpose of the prohibitions in this Decision, Decision 2014/145/CFSP, Regulation (EU) No 833/2014 and Regulation (EU) No 269/2014.”

One of the payment networks being targeted is the A7 Network, which is behind the A7A5 stablecoin.

Read more: UK sanctions HTX for alleged Russian sanctions violations

The sanctions targeting HTX follow the United Kingdom Foreign, Commonwealth, and Development Office sanctions against Huobi Global S.A., which claimed that it was providing financial services to Russia, including interacting with the A7 Network.

At the time, HTX tried to claim that “the listed entity Huobi Global S. A. is distinct from the online HTX exchange.”

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