A7 denies Iran links after US Treasury sanctions Russian payments network
In brief
- US Treasury designated A7 a significant transnational criminal organization on October 1, 2026.
- Treasury alleges A7 sub-agents served the IRGC, Iran's central bank and Hamas.
- FinCEN proposed barring US institutions from A7 sub-agent transactions, citing virtual currency.
- A7 denied any Iran or terrorism links, saying it settles legitimate trade payments.
What Treasury alleges
Treasury described A7 as a shadow banking and payments network with ties to Russia, and it alleged the network helped Iran and several of its proxies evade sanctions, Crypto Briefing reported. The allegations go well past Russia. Treasury linked A7's sub-agents to the Islamic Revolutionary Guard Corps (IRGC), Iran's central bank and proxy groups including Hamas, and it said the network enabled covert sales of Iranian oil and helped facilitate weapons procurement.
One figure stands out.
Treasury said a single A7 sub-agent was tied to transactions totaling nearly $140 million. (That's one sub-agent, not the whole network.)
This isn't the first US action against A7. In August 2025, Washington sanctioned specific entities associated with it; the October designation widens the scope to the network as a whole.
FinCEN's proposed rule and crypto
The Financial Crimes Enforcement Network (FinCEN) has proposed regulations that would bar US financial institutions from processing transactions involving A7's sub-agents, with particular attention to convertible virtual currency. It's a proposal, not a final rule. The explicit reference to convertible virtual currency, though, means crypto payment flows sit inside the scope of what FinCEN is targeting, not off to the side of it.
A7's response
A7 denied any connection to Iran or to terrorist organizations on October 2, and it hasn't conceded any of Treasury's allegations. The company doesn't hide its purpose, either. It positions itself as a necessary tool for working around Western sanctions on Russia, per Crypto Briefing's report.
According to Crypto Briefing, A7 was founded in late 2024 by Ilan Shor and Promsvyazbank, a Russian state-linked lender. The outlet reports the network processes more than 2,000 transactions a day and, at certain points in 2025, handled volumes equal to approximately 13% of Russia's foreign trade. A7 itself says it has handled up to 7.5 trillion rubles in total claims (roughly $91.5 billion).
Those are A7's numbers, not Treasury's.
Frequently asked questions
What is the A7 Network?
Treasury describes A7 as a shadow banking and payments network with ties to Russia. According to Crypto Briefing, it was founded in late 2024 by Ilan Shor and Promsvyazbank, a Russian state-linked lender. A7 says it focuses on legitimate trade settlements and positions itself as a tool for working around Western sanctions on Russia.
What does FinCEN's proposed rule on A7 do?
FinCEN has proposed regulations that would bar US financial institutions from processing transactions involving A7's sub-agents, with particular attention to convertible virtual currency. The rule is still at the proposal stage and hasn't been finalized.
What has Treasury alleged against A7?
Treasury alleges A7 helped Iran and several of its proxies evade sanctions, linking its sub-agents to the IRGC, Iran's central bank and Hamas. It also alleges the network enabled covert Iranian oil sales and weapons procurement. A7 denies any Iran or terrorism links and hasn't conceded the claims.
