US sanctions Russia-linked shadow banking network that moved billions through global financial system

The Treasury Department designated A7 as a significant transnational criminal organization and proposed barring US financial institutions from transmitting funds involving its network of sub-agents.

According to the Treasury, A7 uses companies in third countries, falsified trade and import-export documents, and misleading descriptions of goods to disguise sanctioned or illicit payments as ordinary commercial transactions.

As of January 2026, A7 claimed to process more than 2,000 transactions a day, with total transaction volume exceeding 7.5 trillion rubles ($91.5 billion) — equivalent to about 13% of Russia’s foreign trade in 2025.

A FinCEN investigation found that A7’s sub-agents processed more than $17 billion globally between January 2025 and June 2026.

The network has also been used by Iran, including the Islamic Revolutionary Guard Corps, and has facilitated transactions linked to Iranian oil sales and weapons procurement.

The Treasury said A7 disguises illicit transactions as legitimate trade through a network of companies controlled by A7 personnel. Following Wednesday’s designation, A7 property and interests in property under US jurisdiction are blocked.