Investigation Estimates Russia’s A7 Network Processed More Than $14 Billion in Cash
Key Facts
The International Consortium of Investigative Journalists and independent Russian outlet Proekt estimated that the A7 network processed at least 283 tonnes of cash rubles, worth more than $14 billion, between November 2024 and July 2025. The estimate is based on internal company records reviewed by the investigation, which traced cash movements and payment routes. The investigation said processing peaked at at least 58 tonnes a month during 2025. These figures focus on the cash A7 processed during a specific period, while allegations related to money laundering and sanctions evasion come from U.S. authorities. The U.S. Treasury Department sanctioned the network on October 1, 2026, describing it as a transnational criminal organization of significant concern.
A7 records reviewed by the investigation showed that a large share of the cash consisted of rubles collected by intermediaries at wholesale markets around Moscow, including Sadovod market, where a significant share of transactions are conducted in cash. The investigation cited internal records saying A7 transferred the money to Russia’s Promsvyazbank, which deposited it in its vaults and credited its value to the company’s accounts. The investigation described the procedure as follows: "The bank puts it in a vault and adds its value to A7’s accounts." The records then traced payment routes through Kyrgyzstan and companies and intermediaries in Hong Kong and China. The investigation said most of the cash that could be traced was headed to China, not Western markets.
This estimate differs from another figure cited by the Treasury from an investigation by the U.S. Financial Crimes Enforcement Network, which said A7 subagents processed more than $17 billion worldwide between January 2025 and June 2026. As for A7 itself, the Treasury said the company claimed that, as of January 2026, it was processing more than 2,000 transactions a day, totaling more than 7.5 trillion rubles, or $91.5 billion. These figures cover different periods and scopes from the investigation’s estimate of cash in circulation between November 2024 and July 2025. The Treasury said subagents used foreign companies, falsified import and export records, and misleading descriptions of goods. According to the department, these methods made prohibited or illicit payments appear to be ordinary commercial transactions.
In its sanctions announcement, the Treasury said the A7 network had been used by Iran, including the Islamic Revolutionary Guard Corps, and had provided financial support to the Guard and Iran’s proxies, such as Hamas. These ties are part of the U.S. allegations announced by the department and are separate from the findings of the investigation into cash published by the International Consortium of Investigative Journalists and Proekt. Washington had previously targeted entities linked to the network, including A7 LLC and Old Vector LLC, on August 14, 2025. The Treasury said the October 2026 action expanded the scope to cover the broader network. A FinCEN notice in the Federal Register also said the network was formally launched in September 2024 as a mechanism designed to evade Western sanctions imposed in response to Russia’s wider invasion of Ukraine in 2022.
A7 rejected the U.S. allegations, saying in a statement cited by the investigative organization that all clients are screened for risks and to prevent services from being provided to those violating regulatory requirements. The company added: "All clients are screened to identify risks and prevent the provision of services to people or organizations that violate regulatory requirements." In a separate action, FinCEN proposed a special rule prohibiting the transmission of funds in transactions involving the network’s subagents. The U.S. Treasury set a public comment period ending 30 days after publication of the proposed notice in the Federal Register. The proposed action allows the department to proceed with restricting transfers linked to the network’s agents, while the closing date remains tied to the notice’s publication date.