Russian Cabinet Heavyweights Join Board of US-Designated A7

Just two weeks after Washington labeled A7 a transnational criminal organization, three senior Russian officials took seats on its board. Energy Minister Sergei Tsivilev, First Deputy Prime Minister Denis Manturov and Finance Minister Anton Siluanov were named directors.

The firm was set up in 2024 by state-owned Promsvyazbank and Moldovan businessman Ilan Shor. It routes payments through foreign entities to keep Russian trade flowing despite Western sanctions that cut off conventional banking channels.

A7 handles thousands of transactions daily and accounted for roughly 13% of Russia’s foreign trade volume in 2025. Its stablecoin A7A5, launched in Kyrgyzstan, has processed about $140 billion in turnover while facing US restrictions since August 2025.

Based on information from cryptonews.net