Treasury sanctions on the A7 Network revealed the Russia-linked operation ran two separate channels totaling $196 billion between early 2025 and mid-2026. Most coverage collapsed the figures into a single misleading number.
FinCEN's October 1 alert detailed $179.1 billion moved through the ruble-backed A7A5 token between February 2025 and June 2026, processed by more than 180 entities using sanctioned exchanges Garantex and Grinex. Separately, A7's Sub-Agent network transferred $17 billion through approximately 435 financial institutions across 83 countries during an 18-month period from January 2025 through June 2026.
Crypto Channel Dwarfed Traditional Banking
The token side carried more than 10 times the volume of the fiat operations. Peak A7A5 activity reached $1.5 billion daily in late 2025 before declining to around $500 million daily by January 2026, according to blockchain analytics firm Elliptic.
FinCEN traced the token flows almost entirely through two platforms already under OFAC designation. The dual-track approach allowed the network to claim it processed $91.5 billion in ruble-equivalent transactions as of January 2026, roughly 13 percent of Russia's 2025 foreign trade. The actual crypto volume ran nearly double that figure by June.
Iran Links Ran Through Both Channels
One Sub-Agent and its sister company received approximately $140 million from entities involved in Iranian sanctions evasion, including those tied to Iran's shadow fleet of tankers that transport oil under false documentation. Another Sub-Agent transferred about $1.6 million to a company linked to weapons procurement efforts.
The A7 designation followed a September pattern of agencies advancing enforcement while legislation stalled. A Senate report released September 28 found 84 percent of 846 Iran-linked wallets used Tether's USDT, prompting the stablecoin issuer to claim it had frozen approximately $550 million in Iran-linked assets during 2026.
Comment Period Runs Through November
Treasury sanctions designated the A7 Network as a transnational criminal organization, applying blocking measures under Executive Order 13581. The FinCEN alert proposed transfer restrictions on A7 Sub-Agent accounts, with a comment period running through November 16.
No major A7A5 issuances occurred after late July 2025. Demand appeared to stall months before the formal designation despite the high transaction volumes that continued through mid-2026.