The U.S. Treasury Department imposed unprecedented sanctions on Thursday against the clandestine financial network A7, which has ties to Russia

The US Department of the Treasury announced on Thursday unprecedented sanctions and financial measures against the A7 network, an underground banking system with ties to Russia that Washington accuses of helping Iran and other sanctioned entities evade international restrictions. The United States identifies fugitive Moldovan oligarch Ilan Shor as the network’s leader.

According to US authorities, A7 processed more than 7.5 trillion rubles, equivalent to approximately $91.5 billion, and claimed to conduct more than 2,000 transactions per day. FinCEN proposed banning transfers through the network’s sub-agents and warned financial institutions about its activities.

OFAC designated A7 as a “significant transnational criminal organization.” The network allegedly used shell companies, falsified trade documents, and misleading descriptions to conceal transactions linked to Iranian oil, weapons, Hamas, and the Islamic Revolutionary Guard Corps. FinCEN identified more than $17 billion processed by A7 sub-agents between January 2025 and June 2026.

The sanctions block the network’s assets located in the US and prohibit US persons from transacting with the designated entities. A7 was allegedly established in late 2024 in Russia and Kyrgyzstan, with the support of Promsvyazbank, a Russian bank sanctioned by the West.