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An investigation by the International Consortium of Investigative Journalists says Russia’s A7 payment network begins with cash collected at Moscow markets, including Sadovod, before routing funds through banks, cryptocurrency and overseas intermediaries. The report says A7 processed at least 58 metric tons of cash in one month at its peak; the period and the calculation behind that figure were not specified in the material provided.
An investigation by the International Consortium of Investigative Journalists (ICIJ) says Russia’s A7 payment service starts many international transfers with cash collected at Moscow markets, then routes funds through Promsvyazbank, cryptocurrency and overseas intermediaries. The findings shed light on how a major cross-border payments network operates amid sanctions that have restricted Russian access to conventional financial channels.
ICIJ journalists reviewed internal company documents and interviewed sources, building on an earlier investigation by the Russian outlet Proekt. Their reporting describes brokers collecting rubles from vendors and businesses at several wholesale and retail markets, including Sadovod, one of Moscow’s largest markets. The source material says A7’s own records identify at least eight initial collection points as “departments.”
According to the investigation, brokers count the cash, pack it into numbered bags and send it by van with customers’ payment orders to an A7 processing center in Moscow. About 50 cashiers there record the funds in the company’s system. The cash is then delivered to state-owned Promsvyazbank, which stores it and credits A7’s accounts, the report says.
The investigation says A7 then uses companies registered abroad to move funds onward. Intermediaries in Kyrgyzstan reportedly buy cryptocurrency through Grinex, an exchange linked to A7. Companies in other countries, often in the Middle East and Southeast Asia, then convert the cryptocurrency into local currency and send payments to recipients. The source material says A7 processed at least 58 metric tons in one month at its peak, but does not identify that month or explain whether the figure refers to cash handled at collection points or another measure.
How A7 Moves Payments Abroad
The reporting matters because it offers a detailed account of a payment route that can connect Russian customers to overseas recipients despite limits on conventional banking. The described chain combines cash collection, banking infrastructure and cryptocurrency, with multiple intermediaries between the original payer and final recipient.
Proekt’s earlier reporting, as summarized in the source material, identified A7 as the largest participant in Russia’s shadow cross-border payments market. A business partner of Roman Abramovich told Proekt that A7 handled about 15% of Russia’s cross-border transfers; the company claimed a higher share of 19%. Those estimates are attributed claims, not independently established market totals in the material provided.
Proekt also reported that A7’s client list included at least 25 Russian companies under U.S. and EU sanctions, including five that manufacture or supply combat drones used by Russia’s military in Ukraine. The findings raise questions about how sanctions restrictions are being circumvented and what visibility financial institutions and authorities have over payments moving through multiple jurisdictions.
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A7’s Ownership and Sanctions Setting
Restrictions imposed after Russia’s full-scale invasion of Ukraine, including the disconnection of Russian banks from SWIFT, created demand for alternative cross-border payment services, according to the report. Proekt said in spring 2026 that numerous shadow intermediaries had offices in Moscow City, with A7 emerging as the largest player in the market.
A7 is majority-owned by Moldovan businessman Ilan Shor, whom the source material says was convicted of fraud and embezzlement in Moldova. The remaining 49% is held by Promsvyazbank, a Russian state-owned bank designated in late 2019 as the bank for Russia’s Defense Ministry and defense industry. The state development corporation VEB.RF is described as providing support to A7.
Proekt reported possible links between A7 and Roman Abramovich, including office rentals and financial support connected to businessman Viktor Kharitonin. It cited an anonymous payments-industry source who called Abramovich A7’s “protector and sponsor.” Abramovich’s representatives denied that he was involved in the company. The source material does not establish that he directs or controls A7.
““Sadovod is simply a big client base.””
— A source familiar with A7’s choice of location, quoted by ICIJ
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Limits of the Reported Figures
The source material does not specify when A7 handled 58 metric tons in one month, how that volume was calculated or whether it represents cash collected, processed or another measure. It also does not provide a complete transaction dataset or an independent estimate of A7’s share of the overall Russian market. The 15% and 19% figures come from a source and the company, respectively, and should not be treated as verified totals.
The reporting describes an elaborate route but does not establish that every A7 payment follows the same steps, or that every transfer successfully reaches its intended recipient. The full legal status of the transactions, the precise role of all named intermediaries and the extent to which authorities can trace funds through the chain remain unclear from the material provided. Allegations about Abramovich’s role are disputed, and his representatives deny his involvement.
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Questions for Regulators and Banks
The investigation’s publication may prompt further scrutiny of the banks, exchanges and overseas companies named in the reporting, as well as of the cash collection network in Moscow. The source material does not announce a specific regulatory action, enforcement case or response from A7, Promsvyazbank, Grinex or the overseas intermediaries.
Further reporting or official statements could clarify the period behind the 58-metric-ton monthly figure, the scale and destination of payments, and whether authorities have opened investigations or imposed new restrictions. Until such information is available, the account provides a reported description of A7’s methods rather than a complete public record of its transactions.
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Key Questions
What is A7?
A7 is a Russian cross-border payment service that Proekt described as the largest player in the country’s shadow payments market. The source material says it is majority-owned by Ilan Shor, with 49% held by Promsvyazbank.
How does the reported transfer process work?
ICIJ reports that brokers collect rubles at Moscow markets, send the cash to an A7 processing center and then to Promsvyazbank. The network reportedly uses cryptocurrency and overseas intermediary companies to convert and deliver funds to recipients.
What does the 58-metric-ton figure refer to?
The source material says A7 processed at least 58 metric tons in a single month at its peak. It does not identify the month or spell out the precise basis for the measurement.
Does the report establish Roman Abramovich’s involvement?
No. Proekt reported connections and cited an anonymous source alleging a role, but Abramovich’s representatives denied that he was involved. The material provided does not establish that he controlled or directed A7.
What remains unknown about A7’s transfers?
The available material does not give a complete transaction record, verify A7’s claimed market share or identify the period behind the peak cash-volume figure. It also does not clarify whether every payment uses the same route or what regulatory steps may follow.
Source: rss
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