Russian A7 Payment Network Moves $100 Billion to Evade Sanctions
A7, a state-backed Russian payment network founded by Ilan Shor, moves over $100 billion annually to bypass Western banking restrictions through cryptocurrency and shell companies.
The state-backed Russian payment network A7 facilitates the evasion of Western sanctions by processing more than $100 billion in annual foreign trade payments. Founded by convicted money launderer Ilan Shor and the state-owned Promsvyazbank, the system manages nearly 20% of Russia's foreign trade payments, with 65% of its volume conducted in Chinese yuan.
A7 employs a combination of cryptocurrency, artificial intelligence to generate fake invoices, and shell companies in Hong Kong, Kyrgyzstan, and the United Arab Emirates to bypass global banking restrictions. The Federal Government of Russia uses the network to settle cross-border accounts and fund the import of military-drone parts.
Endorsed by President Vladimir Putin, A7 aims to establish a Russian-led alternative to the Swift financial system. Despite sanctions from the United States, United Kingdom, and European Union, the network is expanding its global footprint with new offices in Nigeria and Zimbabwe and plans to enter the Middle East and Latin America.
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