US Treasury sanctions A7 Network, a Russia-linked shadow banking network that processed $17B and facilitated sanctions evasion via a ruble-backed token.
Regulation & Gov ·
The US Treasury Department has taken enforcement action against A7 Network, designating the Russia-linked shadow banking operation as a significant transnational criminal organization through OFAC. FinCEN simultaneously proposed restrictions on fund transfers tied to its correspondent banking channels and released a risk advisory targeting financial institutions.
Treasury investigators determined that A7 Network moved over $17 billion across the period spanning January 2025 through June 2026, employing shell entities in third countries and forged commercial paperwork to circumvent sanctions regimes. The operation maintained documented ties to Iran's monetary authorities, the Islamic Revolutionary Guard Corps, Iranian petroleum commerce, and weapons acquisition networks, alongside involvement in illegal cryptocurrency transactions.
A key component of the network's infrastructure is A7A5, a ruble-denominated digital token created by Old Vector LLC. US officials identified the token as instrumental in facilitating borderless value transfers and sanctions circumvention. The extent to which A7A5 remains in active use or operational following the designations has not been disclosed.