US Treasury Blocks Russia-Linked Shadow-Banking Network Used by Iran
The US Treasury has taken significant steps to dismantle a shadow-banking network used by Iran to move illicit funds through ordinary trade payments. The A7 Network, which claimed over $91.5 billion in transactions as of January 2026, is led by Ilan Mironovich Shor, a US-sanctioned convicted fraudster.
The network has been linked to several sanctioned entities, including Nobitex, Iran's largest digital asset exchange, and has facilitated transactions related to North Korean hacks of cryptocurrency exchanges. The A7A5 token, issued by Old Vector LLC, is also part of the network and has been banned in the US.
The Treasury's designation freezes property and interests of the A7 Network, including transactions by Sub-Agents acting for it that are in the United States or held by US persons. US financial institutions are expected to use a FinCEN alert's red flags and file suspicious-activity reports where the pattern matches.