Russian Officials Join Board of Sanctions-Hit Payments Firm A7

Finance Minister Anton Siluanov, Energy Minister Sergei Tsivilev, and First Deputy Prime Minister Denis Manturov now oversee the firm, which was established in 2024 by the defense-focused lender PSB. The appointments underscore A7’s strategic pivot in the Russian economy, where it facilitates transactions that traditional financial institutions can no longer touch. According to the company, alternative payment channels now handle up to 80% of Russia’s foreign trade turnover.

Washington has responded to this expansion with direct pressure. On October 1, the US Treasury sanctioned A7, alleging the firm operates a global network of shell companies designed to mask transactions linked to restricted sectors. Despite this, A7 continues to scale its operations using the A7A5, a rouble-backed stablecoin launched in Kyrgyzstan in 2025. PSB estimates that turnover within this digital token ecosystem has reached $140 billion, providing a critical workaround for firms operating under the weight of international financial isolation.