How the EU and UK’s Latest Sanctions Affect Your Deposits and Withdrawals

In April and May 2026, the European Union and United Kingdom introduced significant new sanctions for crypto exchanges, stablecoins, payment networks, and individuals for using digital assets to help Russia bypass international trade blockade and fund its war against Ukraine.

The EU and UK actions are separate measures with different scope, and what applies to you depends on where you are based and the products and services you use. If you’re a Wirex customer based in the EU or UK, here’s what you need to know.

These actions are part of a coordinated international effort to cut off the financial infrastructure funding Russia’s war.

On 23rd April 2026, the EU’s 20th sanctions package introduced a sector-wide ban on all Russian and Belarus crypto service providers or decentralised platforms for helping Russia evade international sanctions. It also prohibited the use of Russia-linked stablecoins. On the 24th May 2026, the UK’s Foreign, Commonwealth and Development Office (FCDO) designated 18 major exchanges, stablecoin issuers, and payment networks with ties to Russia.

For EU customers, this applies to any Russia- or Belarus-established crypto platform, and the following prohibited assets:

• RUBx, a rouble-backed stablecoin

• Digital rouble (Russia’s central bank digital currency)

• A7A5 stablecoin

For UK customers, the designated entities include:

• HUOBI GLOBAL S.A. (HTX, previously Huobi)

• EXMO Exchange Limited

• ARVIX LLC

• Rapira Group

• Alistera Limited

• Aifory

• Bitpapa IC FZC LLC 

• OJSC Virtual Asset Issuer (issuer of the USDKG stablecoin)

• ABCeX

• Igor Olegovich Gorin

• Irina Rafaelyevna Akopyan

• Sergey Mendeleev

• Liran Cohen

As a regulated financial platform, Wirex is required to comply with UK and EU sanctions law. We actively monitor transactions to and from our platform, and if we detect activity linked to a sanctioned entity or asset, we are legally obligated to freeze the relevant funds.

You should therefore avoid depositing or withdrawing from addresses linked to any of the sanctioned companies and assets when using Wirex. If you do, we may restrict your activity, freeze, or close your Wirex account.