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Japan freezes assets of Russian crypto exchange Garantex in new sanctions

Japan has added Russian cryptocurrency exchange Garantex to its sanctions list, enacting asset freezes tied to the Ukraine war alongside penalties on dozens of entities and oil-transport vessels.

White text reading Garantex inside a rectangular border on a black background.
Image: @Cointelegraph

Japan has added Russian cryptocurrency exchange Garantex to its sanctions list as part of new asset freezes tied to the war in Ukraine. The exchange has been linked to more than $96 billion in cryptocurrency transactions.[1][2][3][4]

According to Coin Bureau, Japan's sanctions package also froze the assets of 32 other entities and nine individuals, while barring services to 35 "shadow fleet" ships carrying Russian oil. The measures reportedly came one day after Russian President Vladimir Putin offered "mutually beneficial" ties to Japan.[4]

Garantex was previously penalized by the United States, the European Union, and other jurisdictions for helping Russian entities evade financial restrictions. Coin Bureau reported that the exchange processed more than $96 billion from 2019 to 2025 and was sanctioned by the U.S. for laundering ransomware and darknet funds. While U.S.-led authorities shut the exchange down in 2025, its operators allegedly transferred customer funds to a new exchange named Grinex.[1][4]

Key facts

  • Japan added Russian crypto exchange Garantex to its sanctions list as part of asset freezes tied to the war in Ukraine.
  • Garantex processed over $96 billion in cryptocurrency transactions between 2019 and 2025.
  • Japan's sanctions package froze the assets of Garantex and 32 other entities, sanctioned nine individuals, and barred services to 35 Russian oil "shadow fleet" ships, according to Coin Bureau.
  • Coin Bureau reported that the sanctions came a day after Vladimir Putin offered Japan "mutually beneficial" relations.
  • Garantex was previously sanctioned by the U.S., the EU, and other jurisdictions for helping Russian entities evade financial restrictions.
  • U.S.-led authorities shut Garantex down in 2025, though its operators allegedly moved user funds to a new exchange called Grinex, per Coin Bureau.

Sources 路 4 sources

  1. CT

    Coin TelegraphArticle 路

    Japan adds Garantex to list of Russia sanctions over Ukraine war Garantex was previously sanctioned by the US, the EU and other jurisdictions for helping Russian entities evade financial restrictions.

    Open source
  2. CO

    Cointelegraph@CointelegraphPost on X 路

    馃嚡馃嚨 LATEST: Japan has added Russian crypto exchange Garantex to its sanctions list as part of new asset freezes tied to the war in Ukraine. https://t.co/VueLGOO1lH https://t.co/JPVzd75hpC

    Open source
  3. CB

    Crypto BriefingArticle 路

    Japan sanctions Garantex, freezing assets of exchange tied to $96B in crypto transactions Japan's sanctions on Garantex highlight global efforts to curb illicit crypto activities, emphasizing increased compliance burdens for businesses. The post Japan sanctions Garantex, freezing assets of exchange tied to $96B in crypto transactions appeared first on Crypto Briefing .

    Open source
  4. CB

    Coin Bureau@coinbureauPost on X 路

    馃嚡馃嚨馃嚪馃嚭JUST IN: Japan sanctions the Russian crypto exchange that moved $96 BILLION, a day after Putin offered "mutually beneficial" ties. Japan froze the assets of Garantex and 32 other entities, plus 9 individuals, and banned services to 35 "shadow fleet" ships carrying Russian oil. The exchange processed over $96 BILLION in crypto from 2019 to 2025 and was sanctioned by the US for laundering ransomware and darknet money. US-led authorities shut it down in 2025, but its operators allegedly moved customer funds to a new exchange called Grinex.

    Open source