U.S. Treasury designates Ilan Shor’s Russia- and Iran-linked A7 payment network as a transnational criminal organization

The U.S. Treasury Department has designated the Russia- and Iran-linked A7 payment network as a transnational criminal organization. The Office of Foreign Assets Control (OFAC) has labeled A7 as a significant threat, stating it is used by the Iranian regime to evade sanctions. FinCEN, a division of the Treasury, proposed banning certain fund transfers involving A7's subagents and provided banks with a list of indicators to identify suspicious transactions linked to the network.

A7 is controlled by Moldovan oligarch Ilan Shor, who currently resides in Russia. The network processed over 2,000 transactions daily, amounting to 7.5 trillion rubles ($91.5 billion) as of January 2026, which is approximately 13% of Russia's foreign trade in 2025. The Treasury revealed that A7 was also utilized by Iran's central bank, the Islamic Revolutionary Guard Corps, Tehran-backed groups such as Hamas, and cybercriminals.

One of its subagents was involved in Iran's "shadow fleet," receiving nearly $140 million, while another transferred about $1.6 million to a company linked to Iran's weapons procurement. Treasury Secretary Scott Bessent emphasized that the action against A7 aims to isolate Iran and its financial enablers, sending a clear message that facilitating illicit finance for America's adversaries will result in losing access to the U.S. financial system.

The network was established in late 2024 by Promsvyazbank and Shor. In April, The Financial Times reported that A7 was developing infrastructure in Africa, with Deputy Chairman Mikhail Dorofeyev confirmed at the opening of its Nigeria office. In July, the European Union imposed sanctions on Leonid Shumakov, head of the A7A5 stablecoin, A7 Agent, A71, and Promsvyazbank Deputy Chairman Mikhail Dorofeyev.