Wu Shuo learned that TRM Labs released a joint investigation with the Open Source Centre stating that the on-chain transaction volume related to the Russian A7 cross-border payment network exceeds 166 billion USD.

TRM states that A7 was established jointly by Russia's Promsvyazbank, a defense bank, and the sanctioned Moldovan oligarch Ilan Shor, to handle cross-border payments for Russian companies excluded from the formal banking system.
Its crypto activities mainly involve converting USDT stablecoins into rubles and transferring them to offshore funds pools, as well as balancing internal ledgers through the ruble-backed stablecoin A7A5.
TRM also states that addresses related to A7 have been identified as having on-chain links with sanctioned or high-risk entities such as the Iranian Islamic Revolutionary Guard Corps (IRGC), North Korean hackers, and Hamas.