US imposes sanctions on Russia-linked payment network A7
The US Treasury has sanctioned the A7 payment network, which it says has helped Russia and Iran evade international sanctions. The network is run by Moldovan businessman Ilan Shor, who is already under sanctions.
The US Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on the A7 Network, designating it as a major international criminal organization.
According to the Treasury, A7 is a Russia-linked shadow financial network that uses money laundering methods to illegally move large sums of money, circumventing sanctions and laws across the jurisdictions where it operates. The network has reportedly also been used by Iran to evade restrictions imposed on it.
US Treasury Secretary Scott Bessent said the action dismantles financial infrastructure that allows Iran and other US adversaries to evade sanctions, move illicit funds, and threaten the integrity of the global financial system.
The A7 network is run by Moldovan businessman Ilan Shor, who was already under sanctions. The US had previously sanctioned individual entities linked to A7, but the new measure targets the entire network.
