EU Adds HTX to Russia Sanctions With August 23 Transaction Ban, Two Months After UK

The European Union added HTX, the crypto exchange owned and advised by billionaire Justin Sun, to its 21st sanctions package against Russia adopted on Thursday (July 23). Listed under its operator Huobi Global SA on an EU annex of firms "significantly frustrating" Russia sanctions, HTX will face a transaction ban starting August 23, though the measure does not freeze its assets.

The move follows the UK's May designation of HTX, when British authorities alleged the exchange had channeled over $1.5 billion to the Kremlin. The EU package also targeted 14 additional crypto-related platforms and marked the first time the bloc threatened a full ban on a third country's crypto services as a deterrent to jurisdictions hosting platforms helping Moscow evade sanctions.