According to Reuters, three senior Russian officials—Finance Minister Anton Siluanov, Energy Minister Sergei Tsivilev, and First Deputy Prime Minister Denis Manturov—joined the board of payment company A7 this week. A7, established by state-owned PSB bank in 2024, facilitates cross-border settlements for Russian enterprises using the ruble-backed stablecoin A7A5. The token, launched in 2025, has accumulated approximately $140 billion in trading volume, according to PSB estimates.

A7's role has expanded as Western sanctions constrain traditional banking channels for Russian trade, particularly with China. The U.S. Treasury imposed sanctions on A7 on October 1, alleging it operates a global network to disguise payments related to sanctioned sectors and individuals as routine commercial transactions.

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