- The European Union added crypto exchange HTX, formerly Huobi Global, to a new sanctions package targeting Russia.
- HTX joins 17 other entities on an EU list of firms providing crypto-asset services that undermine existing restrictions related to the war in Ukraine.
- The exchange had already been sanctioned by the United Kingdom prior to this latest EU action.
The European Union has formally added cryptocurrency exchange HTX, previously known as Huobi Global, to its latest sanctions package targeting Russia over the ongoing war in Ukraine. The European Council amended its restrictive measures on Thursday, citing Russia’s continued actions destabilizing the situation in Ukraine.
HTX now appears on a list of 18 entities that EU officials say are “providing crypto-assets services or payment services established outside of the Union that are significantly frustrating the purpose of the prohibitions” against Russia. The exchange, already sanctioned by the UK, joins firms that the bloc accuses of enabling sanctions evasion. Consequently, any transaction between these listed entities and EU operators is now prohibited. “The Union has repeatedly taken measures to identify financial institutions, credit institutions or entities providing crypto-asset services or payment services that facilitate a continued financial lifeline for Russia’s war of aggression against Ukraine,” EU officials stated.
Meanwhile, Russia continues to face mounting global sanctions following its military invasion of Ukraine in 2022. This latest EU action specifically targets entities that help Moscow bypass financial restrictions through cryptocurrency services.
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