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US authorities designated the A7 financial network as a "significant transnational criminal organization," the latest in a series of steps by Western authorities to try and choke the sprawling Kremlin-backed sanctions-evading scheme.
US authorities have escalated efforts to disrupt sanctions evasion by targeting the A7 Network, a Russian-linked shadow banking system accused of facilitating Iranian oil trade, shadow fleet transactions and billions of dollars in illicit cross-border payments
US sanctions target the A7 Network and its sub-agents. On-chain research links it to $166 billion in volume and a ruble-backed bridge into USDT.