US sanctions on Russia-linked payment platform and its ties

In depth

The US Treasury Department imposed sanctions on the A7 payment network, set up in Russia by oligarch Ilan Shor, and designated it a "multinational criminal organization". According to Ynet, the network helps the Kremlin circumvent sanctions.

According to Bizportal, more than $14 billion passed through the network within nine months, most of it on its way to China. According to Ynet, the network maintains business ties with the Revolutionary Guards and Hamas, and according to Behadrei Haredim, also with terrorist organizations. According to Behadrei Haredim, the network also serves the Revolutionary Guards.