UK Sanctions HTX Crypto Exchange Over Links to Russia

The UK government added Panamanian-headquartered cryptocurrency exchange HTX, formerly Huobi Global, to its sanctions list on Tuesday, citing evidence that the platform supported Russia through funds and services routed via A7 Limited Liability Company and the already-sanctioned exchange Garantex. UK authorities said there were “reasonable grounds to suspect” the exchange had been used to help Russia evade sanctions.

UK Foreign Secretary Yvette Cooper warned, “If the Kremlin thinks it can evade our sanctions by hiding behind crypto networks and shadow financial systems, it is gravely mistaken.” She added the designation is part of an enforcement effort to target entities used to circumvent UK measures against Russia.

HTX responded with a statement stressing compliance. A company spokesperson said the exchange makes regulatory compliance its “absolute top priority” and that it monitors and follows regulatory frameworks in all jurisdictions where it operates, including the UK.

The UK action cites links between HTX, A7 Limited Liability Company and Garantex, both of which are already subject to sanctions. The government did not detail asset freezes or specific operational restrictions tied to HTX in its announcement.

In April, the European Commission introduced a package of crypto-related sanctions that targeted certain stablecoins associated with A7A5 and digital asset operators connected to Belarus. Regulators in Europe have adopted measures aimed at closing crypto channels that could be used to skirt restrictions.

HTX previously faced action from the UK’s Financial Conduct Authority, which in 2025 opened legal proceedings alleging illegal promotions on social media platforms including TikTok, X, Facebook, Instagram and YouTube.

Russia remains under wide sanctions following its 2022 invasion of Ukraine. In April, Russian lawmakers advanced bills that would impose criminal penalties for unlicensed digital asset services, require registration with the central bank, limit retail access to crypto products and reinforce a ban on using digital assets for payments; those measures passed an initial parliamentary reading.

The listing places HTX among a group of crypto firms and related entities that UK and European authorities are monitoring for possible links to sanctioned networks.