A Russian cryptocurrency payments network founded by sanctioned actors is expanding into Africa as Moscow seeks new channels to move money around western restrictions imposed after the invasion of Ukraine, according to a Financial Times report. 

A7, a Russian crypto network established in 2024 by fugitive Moldovan oligarch Ilan Șor and Promsvyazbank, has opened an office in Nigeria, announced a branch in Zimbabwe, and advertised for a project manager to build operations in Togo. The moves point to a broader Kremlin effort to develop sanctions-resistant payment rails after major Russian banks were cut off from the SWIFT interbank messaging platform and targeted by western financial sanctions, the FT said. 

A7 uses monetary instruments, including stablecoins and promissory notes, to keep roubles circulating internationally. Founder Ilan Șor said last year that the platform had originally been conceived as a response to what he called “illegally imposed international sanctions,” but had since drawn interest from other countries seeking to use the system, according to the newspaper. 

The network’s African push is notable because it intersects with Russia’s growing political, trade, and military footprint across the continent. Mikhail Dorofeev, deputy chair of Promsvyazbank, told Interfax that the Nigeria and Zimbabwe openings reflected a “shared interest” in scaling a “stable and sanctions-resilient, cross-border settlements system,” according to the report. 

The scale of A7’s actual operations in Africa remains unclear. Citing a report by the Centre for Information Resilience, the FT said videos showed a branded launch event in Lagos, but local cryptocurrency figures in Nigeria and Zimbabwe said they were not aware of any meaningful footprint by the company. The newspaper said there was also no indication beyond an online job posting that A7 had established a presence in Togo. 

Russian Foreign Minister Sergei Lavrov said in December that 84 percent of Russia’s trade with African countries between January and September 2025 had been conducted in roubles, and described A7 as Russia’s “first international financial platform.”

“Nigeria and Zimbabwe have already joined the platform. We invite all our other African partners to follow their example,” Lavrov said in the report. 

Read more at the Financial Times