{
  "id": 11278122,
  "title": "U.S. Treasury cracks down on Russian shadow banking network funding Iran",
  "url": "https://urgent.news/2026/10/01/u-s-treasury-cracks-down-on-russian-shadow-banking-network-funding",
  "topic": "world",
  "section": "World",
  "published": "2026-10-01T20:21:44.000Z",
  "source": {
    "name": "Kyiv Independent",
    "slug": "kyiv-independent",
    "url": "https://kyivindependent.com/u-s-treasury-cracks-down-on-russian-shadow-banking-network-funding-iran/"
  },
  "original_language": "en",
  "account": "On October 1, the U.S. Treasury Department announced new restrictions targeting the A7 Network, a Russian shadow banking system used by Iran to circumvent sanctions. According to U.S. Treasury Secretary Scott Bessent, the move aims to \"dismantle the financial infrastructure\" that enables Iran and other adversaries to evade sanctions, move illicit funds, and undermine the global financial system. The A7 Network, led by Ilan Mironovich Shor and Promsvyazbank, has been processing over 2,000 transactions per day for Russian entities since 2024, totaling $91.5 billion, or approximately 13% of Russia's 2025 foreign trade. The network has also been utilized by Iran for oil sales and weapons procurement. The U.S. Treasury's Financial Crimes Enforcement Network proposed blocking transactions involving the A7 Network's sub-agents and alerted financial institutions to detect suspicious activity. The Office of Foreign Assets Control sanctioned the A7 Network as a significant transnational criminal organization. These actions follow new sanctions imposed on Russian companies linked to Iranian weapons procurement on September 29.",
  "summary": "Led by a \"sanctioned and convicted criminal fraudster,\" and a state-owned Russian bank tied to the military, the A7 shadow network has helped Russian entities evade sanctions since 2024.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}