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The UK has sanctioned Huobi Global S.A., listed with name variations including HTX and HTX Exchange, as part of a new Russia sanctions package targeting crypto and payment networks London says were used to help Moscow bypass restrictions.
The designation was made under the UK’s Russia sanctions regime. It does not name Justin Sun personally, though major financial media have described HTX as linked to him.
UK Links Huobi Global S.A. to A7 and Garantex
The UK’s sanctions notice says officials had reasonable grounds to suspect Huobi Global S.A. supported Russia by providing financial services, funds, economic resources, goods or technology to A7 Limited Liability Company and Garantex Europe OU.
The government described both A7 and Garantex Europe as operating in sectors of strategic significance to Russia. That framing puts HTX inside a wider sanctions push aimed at financial infrastructure the UK says has helped Russia move money despite Western restrictions.
Payment and Internet Restrictions Hit Sanctioned HTX Entity
The measures go beyond a standard asset freeze. The designation imposes asset-freeze sanctions, trust services sanctions, director disqualification sanctions, internet services sanctions, and correspondent banking and payment-processing restrictions.
That means UK credit and financial institutions are barred from maintaining correspondent banking relationships with the designated entity or processing payments to, from or through it. The immediate risk is UK-facing banking access, payment processing and service-provider exposure tied to the sanctioned entity.
A7 Network Anchors Wider Russia Sanctions Package
The wider package is centered on what the UK describes as Russia’s shadow financial infrastructure. London said the Kremlin-backed A7 network was used to bypass sanctions and move funds tied to Russia’s war economy.
UK officials also said a global crypto exchange was suspected of channeling more than $1.5 billion back to the Kremlin. The package targeted crypto exchanges, financial institutions and intermediaries allegedly connected to that system.
HTX Says Customer Platform is Separate From Huobi Entity
HTX has pushed back on the designation. The exchange said regulatory compliance remains its top priority and that it monitors legal and regulatory requirements in the jurisdictions where it operates.
HTX has also argued that the sanctioned entity is separate from the online exchange platform currently used by customers.
For HTX, the case now turns on corporate separation, control and compliance exposure. Even if the exchange keeps operating outside the UK, the designation raises questions over banking access, counterparties and whether other service providers tighten their treatment of Huobi-linked entities.
