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UK's Foreign, Commonwealth and Development Office Sanctions 18 Entities, Individuals for Overcoming Russian Trade Blockades

UK's Foreign, Commonwealth and Development Office Sanctions 18 Entities, Individuals for Overcoming Russian Trade Blockades

FCDO targets entities accused of helping Russia bypass sanctions.

Written by Rahul Dhingra, Edited by David Delima | Updated: 27 May 2026 16:43 IST

UK's Foreign, Commonwealth and Development Office Sanctions 18 Entities, Individuals for Overcoming Russian Trade Blockades

Photo Credit: Unsplash/Szymon Shields

UK expands sanctions targeting crypto-linked Russian trade networks

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Highlights

UK sanctions include exchanges, banks, and crypto firms
A7 network claimed to move $90 billion into Russia
HTX added over alleged support tied to Russia operations

The UK's Foreign, Commonwealth and Development Office (FCDO) announced the sanction of 18 crypto exchanges, banks, and crypto individuals, which includes Kyrgyzstan-linked stablecoin infrastructure, to assist Russia evade international trade blockades. The main target is the A7 network, which is a group of companies that has claimed to drive around $90 billion (roughly Rs. 8,61,120 crore) into the Russian economy last year using crypto. The amount happens to be more than half of the country's annual military budget. Furthermore, the UK government has added HTX exchange to its list of sanctioned entities over its support of Russia.

HTX and A7-Linked Entities Added to UK Sanctions List

HTX exchange, formerly known as Huobi Global, based out of Panama, was the latest to be named as part of a crackdown on entities exploited by Russia to circumvent UK sanctions. UK authorities further stated that they have a justified suspicion of HTX. Last year, in May 2025, FCDO had sanctioned A7 LLC, a Russian company that backs the Ruble-stablecoin A7A5, which was used to support Russia in its war against Ukraine. Today's announcement is more of an expansive step, as many other companies connected to A7, which issues the A7A5 stablecoin.

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The sanctions that are placed on UK businesses and individuals operate under two pillars. First is Asset Freezes, which prohibits any UK citizen or business from dealing with funds or economic reserves owned, held, or controlled by the designated entities. For the exchanges in the A7 Network, this means a total freeze on any assets touched by UK jurisdiction.

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This is not the first time that HTX has come under the radar of the UK's regulatory authority. In 2025, the Financial Conduct Authority (FCA) opened legal proceedings against the company for illegal crypto promotions on social media. The UK watchdog said that HTX had pushed promotions on TikTok, X, Facebook, Instagram, and YouTube, in violation of marketing rules.

Earlier in April, Grinex crypto exchange, which is also deeply linked to assisting the Russian economy and providing funds for the country's military operations against Ukraine in 2022, had suspended trading operations after losing more than RUB 1 billion, which amounts to $13.4 million (roughly Rs. 128 crore). The suspected attack showed signs involving foreign intelligence agencies. The exchange further said that the funds were taken from 54 addresses and that the nature of the attack, along with the digital footprint, indicates that this attack was of an unprecedented level of resources and technology. Grinex remains under scrutiny now, as it has been described as a continuation of the previously blacklisted Garantex platform.

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Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More