On October 2, 2026, Japan added Moscow-based crypto exchange Garantex to an asset-freeze list, aligning its measures with earlier sanctions imposed by the United States and the European Union. The package covers 33 entities and nine individuals, imposes restrictions on payments and capital transactions under Japan’s Foreign Exchange and Foreign Trade Act, and introduces service and financing limits for 35 vessels identified as part of a so-called “shadow fleet.” The government named Garantex in its appendix as Garantex Europe OU and included Moscow and St. Petersburg addresses.
Japan’s designation does not quantify any specific crypto holdings frozen in Japan nor identify wallets tied to Garantex; rather, it makes payments and certain capital transactions subject to government permission. The move is part of a broader sanctions package that also targets defense-sector companies and export controls, reflecting Tokyo’s view of sanctions as a tool against elements of Russia’s war economy.
Garantex’s designation follows a multi-year enforcement history: the U.S. Treasury’s Office of Foreign Assets Control first sanctioned the exchange in April 2022 and again under cyber authorities in August 2025; the EU added Garantex to its sanctions roster in February 2025. Law enforcement actions in March 2025 included seizure of domains and servers in Germany and Finland and freezing more than $26 million in assets. U.S. prosecutors later unsealed allegations that Garantex processed at least $96 billion in cryptocurrency transactions since April 2019, while Treasury linked more than $100 million in known transactions to illicit actors and darknet markets. After the March 2025 disruption, authorities say customers and funds migrated to an alleged successor, Grinex, which U.S. sanctions later targeted.
Observers and blockchain-intelligence firms have warned that platforms like Garantex may prepare contingency measures to relocate customers, infrastructure, and funds to successor services, potentially blunting sanctions’ effects. The day before Japan’s announcement, the U.S. Treasury designated the A7 Network as a transnational criminal organization and FinCEN proposed restrictions related to A7 sub-agents; U.S. filings say A7 sub-agents processed more than $17 billion between January 2025 and June 2026. Operationally, Japan’s new designation may change little for a platform already disrupted by earlier seizures, but it creates an additional compliance and legal screening requirement for businesses and counterparties with ties to Japan.