U.S. Blacklists Russia’s A7 Payment Platform Over Alleged Sanctions Evasion
The Treasury accused the A7 network of enabling Iran and others to bypass Western banking restrictions.
The U.S. Treasury Department has added Russia's A7 payment platform to its sanctions list, banning all transactions and branding it a "transnational criminal organization" for allegedly assisting Iran and cybercriminals in processing illicit global transactions. Treasury Secretary Scott Bessent stated that this action is part of ongoing efforts to isolate Iran and its financial supporters.
According to the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC), A7 established a vast network of front companies and "sub-agents" to circumvent Western banking restrictions. They claim A7's network provided pathways for Iran's central bank, the Islamic Revolutionary Guard Corps, and oil and weapons smuggling networks to move illicit funds.
Furthermore, A7 allegedly catered to cybercriminals, processing over $17 billion in global transactions from January 2025 to June 2026. The company allegedly utilized fake trade documents, misleading goods descriptions, and sub-agents to disguise illegal payments as legitimate business transactions. Despite these allegations, A7 defended its operations, denying any involvement with sanctioned Iranian entities and claiming it serviced legitimate import and export activities involving consumer goods and commodities.
A7 operates in Russia, providing payment services amidst the country's efforts to develop alternative payment systems with trading partners. The platform's parent company, Promsvyazbank, was founded in 2024, and Ilan Shor, a Moldovan businessman and 51% owner, has been sentenced in Moldova to 15 years in prison for money laundering.
Shor, who fled to Israel and then Russia, is under sanctions by the U.S., EU, and U.K. for activities aimed at destabilizing Moldova. Russia's Prosecutor General's Office designated The Moscow Times as an "undesirable" organization, citing its reporting as an attempt to discredit Russian leadership decisions. The journalists of The Moscow Times reject these allegations, vowing to continue providing accurate, unbiased reporting on Russia.
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