The European Union has expanded its sanctions targeting Russia's financial infrastructure by placing two cryptocurrency exchanges — HTX and Exmo — under new restrictive measures announced on July 24.

Summary:

• The European Union has added cryptocurrency exchanges HTX and Exmo to its latest sanctions package against Russia

• Brussels alleges the platforms provided services that could facilitate sanctions evasion through digital assets

• The decision follows similar UK restrictions imposed on HTX earlier this year

According to Reuters, EU authorities believe the exchanges were involved in providing crypto-related services that could help Russian users bypass international sanctions. The move forms part of a broader package affecting 18 companies linked to financial activities connected with Russia.

For HTX, formerly known as Huobi, the decision marks another regulatory setback. The exchange had already been sanctioned by the United Kingdom in May 2026, when London targeted organizations it said supported Russia's so-called shadow financial system. At the time, HTX stated that regulatory compliance remained a core priority and said it followed applicable laws in every jurisdiction where it operates.

The new EU package differs from the British measures by stopping short of freezing the exchange's assets or forcing it to cease operations. Nevertheless, inclusion on the sanctions list is expected to increase regulatory pressure on one of the world's largest crypto trading platforms.

Exmo also confirmed its inclusion in the sanctions package. The exchange said earlier UK restrictions severely disrupted its business after banking partners, custodians, and other service providers suspended cooperation and froze part of its assets. The company halted new registrations, stopped accepting deposits, and limited trading while allowing customers to close existing positions.

Exmo additionally cited the long-term consequences of its 2020 security breach, saying nearly 30% of customer liabilities remain uncovered. To reflect potential future recoveries, affected users received USDRecover (USDRec) tokens representing claims on assets that may eventually be returned, although the tokens cannot currently be transferred or traded.

The exchange continues to operate only to process customer withdrawals and has urged users to complete identity verification and remove their remaining assets as soon as possible.

Earlier, we covered the FCA's legal action against HTX.