US Sanctions Russia-Linked Payment Network Behind $17 Billion in Transactions
US authorities have imposed sanctions on A7 Network, a Russia-linked payment network that has facilitated over $17 billion in transactions. The network is linked to Iran's regime and has been used to evade US sanctions.
A7 was launched in September 2024 by Ilan Mironovich Shor and Russia's state-owned Promsvyazbank (PSB). It relies on a large collection of sub-agents, with hundreds of entities having bank accounts at 435 financial institutions in at least 83 countries. These sub-agents processed over $17 billion in dollar-denominated transactions between January 2025 and June 2026.
The network uses A7A5, a blocked, ruble-backed token issued by Old Vector LLC and built on Tron and Ethereum. It serves as an internal accounting and settlement asset, backed by ruble deposits held at PSB, which is a sanctioned Russian bank. A7 then converts A7A5 into more widely accepted digital assets, including USDT.
The proposed FinCEN rule would expand the pressure on banks and crypto businesses linked to A7's sub-agents, covering around 348,000 Bank Secrecy Act financial institutions.