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Russia's A7 payment platform denies links to Iran after US sanctions - Finance news and analysis from Global Banking & Finance Review
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Russia's A7 payment platform denies links to Iran after US sanctions

Published by Global Banking & Finance Review

Posted on October 2, 2026

2 min read

· Last updated: October 2, 2026

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A7 Payment Platform Refutes US Allegations of Links to Iran After Sanctions

Main Developments in the A7 Sanctions Dispute

Background of US Sanctions Against A7

MOSCOW, Oct 2 - Russia's A7 payment platform, sanctioned by the US for helping Iran evade sanctions as part of President Donald Trump's operation Economic Outcast, denied any links to Iran in a statement on Friday. 

The US Treasury Department said on Thursday it was prohibiting any transactions with A7 and its sub-agents, calling the company "a significant transnational criminal organisation" and expanding previously imposed sanctions to the whole network. 

Role of A7 in Russia's Payment Market

A7, set up in 2024 by the defence sector-focused bank PSB, has become the leader in Russia's cross-border payments market as the country seeks to develop alternative payment systems with its main trading partners, such as China and India, spanning cryptocurrency, gold, and non-Western currencies.

A7's Response to Allegations

Denial of Links to Iran

"A7 categorically rejects any allegations that it has worked with Iran or terrorist organisations," the company said in a statement.

Commitment to Russian Market Operations

It added that it was providing "uninterrupted payment settlements for the Russian market, which has been subjected to unlawful restrictive measures". 

US Treasury Department's Claims

Alleged Global Network and Activities

The U.S. Treasury Department said A7 had built a global network of affiliated companies "to disguise payments linked to sanctioned sectors and persons as ordinary commercial activity".

Links to Iran and the Islamic Revolutionary Guard Corps

It added that the network had been leveraged by Iran, including the country's elite Islamic Revolutionary Guard Corps.   

A7's Position on Its Business Operations

The company said it was servicing "legitimate import and export operations involving consumer goods and commodities".

(Reporting by Elena Fabrichnaya; Writing by Gleb Bryanski; Editing by Clarence Fernandez)

Key Takeaways

  • The U.S. Treasury designated A7 as a significant transnational criminal organization and prohibited any transactions with its network, citing links to Iran and its Islamic Revolutionary Guard Corps. (home.treasury.gov)
  • A7, launched in October 2024 by PSB Bank, has become a major player in Russia’s cross‑border payments infrastructure and had expanded rapidly, processing over ₽10 trillion in 2025 and running ~2,000 daily transactions. (a7.ru)
  • Despite the U.S. action, A7 asserts it supports only lawful import–export operations and continues uninterrupted settlements, rejecting allegations of ties to Iran or terrorist groups. (home.treasury.gov)

References

Frequently Asked Questions

Why was Russia's A7 payment platform sanctioned by the US?
The US sanctioned A7 for allegedly helping Iran evade sanctions and labeled it a transnational criminal organization.
What did A7 say about its alleged links to Iran?
A7 categorically rejected any allegations of working with Iran or terrorist organizations.
Which sectors does A7 claim to serve?
A7 stated it provides payment settlements for legitimate import and export operations involving consumer goods and commodities.
Who set up the A7 payment platform?
A7 was established in 2024 by PSB, a bank focused on the defense sector in Russia.
How has A7 responded to US accusations?
A7 maintains it is supporting only lawful Russian market operations and denied unlawful activity.

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