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Three senior Russian officials join the board of payment company A7 whose ruble stablecoin A7A5 has a trading volume of approximately 140000000000 USD】
October 16, the Russian government press office announced on October 15, stating that Finance Minister Anton Siluanov, Energy Minister Sergei Tsivilev, and First Deputy Prime Minister Denis Manturov had joined the board of Russian payment company A7 board. As Western sanctions affect traditional banking channels,A7’s role in maintaining ties between Russia and trading partners such as China is expanding.A7 was founded in PSB by the Russian bank 2024 in A7 estimates that up to 80%of Russia’s foreign-trade payments are currently completed through alternative channels.A7 has been subject to multiple Western sanctions. The U.S. Department of the Treasury sanctioned it on October 1 alleging that it had established a global network of affiliated companies that "disguised payments linked to sanctioned sectors and individuals as ordinary commercial activity."A7 uses the ruble stablecoin A7A5 for settlement. The token was launched in Kyrgyzstan in 2025 and is backed by ruble deposits held at PSB Bank. According to PSB’s estimate, the cumulative trading volume of A7A5 has reached approximately 140000000000 USD。