Stopping A7 means seeing the Russian party behind the payment
The article says Washington needs to work more closely with financial supervisors in Asia and elsewhere to identify front companies processing payments for A7, a Russian-backed sanctions-evasion network. It describes A7 using ruble payments and overseas companies to conceal Russian buyers, and cites US Treasury reporting that A7 front companies operate in Hong Kong, Indonesia, Kyrgyzstan, the Seychelles, Turkey and the United Arab Emirates. It also notes that Treasury’s Financial Crimes Enforcement Network has proposed barring US financial institutions from processing payments involving specified A7 companies and recommends sharing account identifiers and customer evidence with financial intelligence agencies.
Why it matters: The article illustrates how sanctions evasion through front companies and correspondent banking limits the visibility needed for effective financial sanctions.