The agency also revealed the Russia-linked A7 Network, managed by convicted fraudster Ilan Mironovich Shor, handles a daily transaction volume of $91.5B, or roughly 13% of Russian foreign trade. Using 70 shell companies, AI-generated trade records, and crypto, A7 sub-agents moved over $17B globally since January 2025. To sever these links, FinCEN proposed a rule banning US firms from handling transfers involving A7 sub-agents, who are tied to North Korean hackers and Nobitex, the largest crypto exchange in Iran.
Wednesday, October 21, 2026
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US Blocks Shadow Network Handling 13% of Russian Foreign Trade
Geopolitics19 days ago
The US government has added the Islamic Republic of Iran Railway Company and officials in the automotive and metals sectors to its sanctions list to dismantle the regime's industrial base. Treasury Secretary Scott Bessent stated the expansion of Operation Economic Outcast targets the IRGC's smuggling networks and exposes foreign logistical and financial counterparties to sanctions. Treasury documented $140 million in Iranian sanctions evasion and $1.6 million in weapons procurement routed through associated channels.
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