US hits Russian company A7 with new Iran-related sanctions
The US Treasury Department imposed new penalties on the Russian financial company A7, accusing it of being used to help Iran evade sanctions. Treasury said the A7 Network created a web of sub-agents in third countries to disguise payments linked to sanctioned people and sectors as ordinary commercial activity, and that these sub-agents were used to facilitate Iranian oil sales and weapons procurement. The Office of Foreign Assets Control also placed sanctions on the A7 Network as a significant transnational criminal organisation, and Treasury targeted parts of Iran's rail, mining and automotive sectors.
Why it matters: The designations extend the use of sanctions as the primary instrument of US economic pressure on Iran and on the financial intermediaries that service it.