Crypto exchange HTX rejected U.K. claims it helped Russia’s “illicit financial infrastructure” used for moving funds and sustaining the country’s war in Ukraine, saying it refused a listing application from the A7A5 ruble stablecoin.

“A7A5 was trying to list their stablecoin. However, following our rigorous internal due diligence and compliance review processes, their application was explicitly rejected,” a spokesperson for HTX told CoinDesk.

The token’s issuer, A7 LLC, is already sanctioned by many Western governments.

In a sanctions note issued Tuesday, the Foreign Office didn’t provide specific evidence of any HTX-A7A5 cooperation. The ministry said it had “reasonable grounds to suspect” HTX was assisting A7, which the U.K. says is…