# A7: how Russia rebuilt payment routes under sanctions

An interactive, sourced guide to the A7/A7A5 network. Follow the bank and crypto routes, test sanctions pressure and inspect the evidence.

Updated 10 August 2026. The project uses 12 official, journalistic, investigative and blockchain-analysis sources. Wallet addresses, access routes and practical usage steps are omitted.

## The central idea

Much of the system runs through banks. The Open Source Centre investigation, based on more than 30,000 documents and internal messages, describes foreign payment companies and correspondent banks connecting Russian-company payments to international financial infrastructure.

## Two routes

### The bank route

A Russian importer starts with the A7 financial instrument, then the payment moves through a foreign payment company and correspondent banks to the supplier. OSC describes this route as central and dependent on international banking infrastructure.

### The crypto route

Roubles can enter A7A5, the token issued by Old Vector, and value can continue through an exchange and a swapping service to an external counterparty. Analysis describes A7A5 as serving liquidity, internal accounting and some payments; on-chain volume is not the same thing as trade value.

## Figures that should not be conflated

- Almost $140 billion: turnover claimed by PSB, with no public independent audit.
- $119.7 billion: Chainalysis’s estimate of A7A5 volume through 24 April 2026.
- More than $166 billion: TRM’s measure of a broader sphere of A7-associated on-chain activity.
- 15,000 companies and up to 2,000 payments a day: PSB claims.
- More than 80 jurisdictions: supplier payments identified in the OSC investigation.

Turnover can exceed trade value because the same value can be transferred repeatedly or circulate internally.

## What the simulator shows

The simulator is illustrative. Some outcomes are observed in sources; others are analytical inferences. Garantex and Grinex, sanctions on A7A5, front companies and correspondent-bank access are treated as distinct pressure points. No addresses, instructions or operational routes are provided.

## Sources

- [Reuters, 10 August 2026](https://www.reuters.com/business/finance/rouble-backed-a7a5-stablecoin-turnover-nears-140-billion-launch-says-psb-head-2026-08-10/) — PSB’s reported figures.
- [Wall Street Journal, 8 August 2026](https://www.wsj.com/world/russia/russias-hottest-startup-is-a-state-backed-sanctions-evasion-network-7afc488c) — journalistic investigation into front companies and scale.
- [Open Source Centre, 12 June 2026](https://stories.opensourcecentre.org/the-big-shor/) — documents, messages, the bank route, SWIFT and jurisdictions.
- [TRM Labs, 12 June 2026](https://www.trmlabs.com/resources/blog/the-a7-leaks-trms-on-chain-analysis-of-russias-cryptocurrency-connections) — on-chain analysis of A7 connections.
- [UK FCDO, 26 May 2026](https://www.gov.uk/government/news/uk-cracks-down-on-backdoor-russian-sanctions-evasion-with-tough-new-measures) — measures against infrastructure around A7.
- [Chainalysis, 24 April 2026](https://www.chainalysis.com/blog/eu-russia-sactions-package-april-2026/) — the $119.7 billion estimate.
- [Chainalysis, 5 March 2026](https://www.chainalysis.com/blog/crypto-sanctions-2026/) — the $93.3 billion estimate, activity patterns and Grinex.
- [Council of the EU, 23 October 2025](https://www.consilium.europa.eu/en/press/press-releases/2025/10/23/19th-package-of-sanctions-against-russia-eu-targets-russian-energy-third-country-banks-and-crypto-providers/) — the A7A5 transaction ban.
- [UK FCDO, 20 August 2025](https://www.gov.uk/government/news/uk-targets-sanctions-circumvention-and-crypto-networks-exploited-by-russia) — designations of Grinex, Meer and Old Vector.
- [U.S. Treasury, 14 August 2025](https://home.treasury.gov/news/press-releases/sb0225) — A7, A7A5, Old Vector and the Garantex–Grinex migration.
- [Financial Times, 25 June 2025](https://www.ft.com/content/1c71cac0-b86b-4361-8f54-ee5d3bb5a489) — early measurement and the A7A5–USDT bridge.
- [A7A5 documentation](https://docs.a7a5.io/) — the token’s stated design; not used as independent verification.

## Editorial limit

The project separates official findings, independent analysis, company statements and editorial inference. A7A5, broader A7 on-chain activity and PSB turnover are different measures.