US Treasury Sanctions Russian Shadow Banking Network A7 Network Over $17 Billion in Fund TransfersThe US Treasury Depart | Hanami
US Treasury Sanctions Russian Shadow Banking Network A7 Network Over $17 Billion in Fund Transfers
The US Treasury Department has sanctioned A7 Network, a Russia-linked shadow banking network. OFAC designated it as a significant transnational criminal organization, while FinCEN proposed restricting fund transfers involving its correspondent network and issued a risk advisory to financial institutions.
The Treasury said A7 Network used third-country companies and falsified trade documents to evade sanctions. Its network processed more than $17 billion between January 2025 and June 2026 and was linked to Iran’s central bank, the Islamic Revolutionary Guard Corps, Iranian oil sales, weapons procurement and illicit crypto-related activities.
The network also includes A7A5, a ruble-backed token issued by Old Vector LLC, which the US said was used for cross-border transactions and sanctions evasion.