The sprawling Sadovod market in Moscow is a hub for a massive, secretive cash-processing operation tied to A7, a payments firm backed by the Russian state. Between November 2024 and July 2025, A7 processed at least 283 tons of cash rubles, equivalent to over $14 billion U.S. dollars, according to an investigation by the International Consortium of Investigative Journalists (ICIJ) and Russian media Proekt.
A7 has been accused of operating as a 'shadow banking network' designed to evade Western sanctions. The U.S. Treasury sanctioned A7 on October 1, 2026, labeling it a 'significant transnational criminal organization.' The firm denies wrongdoing, claiming it employs a 'modern, multi-tiered compliance system' to prevent illegal activities.
Experts warn that A7's cash-based model presents unique challenges for law enforcement and the banking system. Anti-financial crime expert George Voloshin told ICIJ that cash is 'one of the highest risk methods of payment' due to its anonymity and ease of cross-border movement. The firm's operations suggest it may be facilitating money laundering by legitimizing potential proceeds of crime.
Most of the cash processed by A7 is bound for China, often through a network of shell companies. The firm integrates informal payment brokers at Moscow markets, where vendors bring bags of cash to be converted into conventional bank transfers or crypto. This system has become more critical since Western sanctions barred Russian businesses from the SWIFT system.