War Finances

It processes conversion and transfer transactions involving RubX — a digital asset pegged to the ruble, developed in collaboration with the state-owned defense conglomerate Rostec to circumvent international financial restrictions.
Currently, the RubX Telegram channel redirects potential users to the Finzy Telegram app, where they can purchase RubX tokens using cryptocurrency or a bank transfer and exchange them for USDT.
The official RubX website lists Finzy as the primary crypto exchange for buying currency.
Finzy (Finzypay) does not require users to complete KYC verification and allows them to log in via the russian social networks VKontakte or Yandex.

Asian-Pacific Bank (ATB Bank) is a federal-level banking institution that participates in the implementation of russian federation government programs and in supporting the financial infrastructure of the aggressor state. The bank participates in the implementation of the state program "Far East and Arctic Mortgage," state program, which provides preferential mortgage loans, in particular to employees of enterprises in the russian defense-industrial complex, as well as to participants in the war against Ukraine and their family members. In addition, the institution provides financial support for the fulfillment of government orders by granting loans to legal entities for the performance of government contracts and issuing bank guarantees for procurements in accordance with russian Federal law № 44-FZ.
The bank supports the operation of the russian federation’s international payment channels amid sanctions restrictions; in particular, it conducts cross-border settlements between the russian federation and the People’s Republic of China in Chinese yuan using the Chinese interbank payment system CIPS. The institution also issues UnionPay payment cards in rubles and yuan, enabling payments outside the russian federation. In 2026, the bank acquired specialized software for the implementation of the digital ruble, demonstrating its involvement in the development of an alternative domestic payment infrastructure in the russian federation.
Asian-Pacific Bank also uses the financial infrastructure of third countries to conduct transactions; in particular, it holds foreign member status on the Kazakhstan Stock Exchange (KASE) and has direct access to its infrastructure. The KASE clearing house uses a correspondent account at ATB Bank to conduct transactions in russian rubles. The bank maintains correspondent relations with Kazakhstan’s ForteBank, which enables it to conduct ruble transactions using the financial infrastructure of a third country.
In addition, the bank directly cooperates with OJSC Keremet Bank (Kyrgyz Republic), which the U.S. Department of the Treasury identified as a participant in a sanctions-evasion scheme carried out in coordination with russian officials and the sanctioned PJSC PSB Bank.
Asian-Pacific Bank also services accounts of Unha Daesong Trading Company, which is linked to the Foreign Trade Bank of the DPRK. The Foreign Trade Bank of the DPRK is subject to U.S. and UN sanctions for providing financial services that facilitate the activities of the Korea Mining Development Trading Corporation (KOMID) and other entities associated with the proliferation of ballistic missiles and conventional weapons.

The russian fintech service Sistema-Crypto LLC and its subsidiaries DC Magadan LLC (TIN 4900018216), Cloud Infrastructure LLC (TIN 9718243479), DC Serpukhov LLC (TIN 9718144566), Data Energy Group LLC (TIN 7708445151), and S-Mining LLC (TIN 5043093312) are part of the sanctioned AFK Sistema PJSC — a russian investment corporation founded by the sanctioned russian oligarch Vladimir Yevtushenkov. Since September 2026, the president of AFK Sistema PJSC has been Vladimir Yevtushenkov’s son, Felix Yevtushenkov.
Sistema-Crypto LLC, through its subsidiary Cloud Infrastructure LLC, manages and owns the trademark for the Neobridge platform (https://neobridge.ru), which specializes in cross-border payments and implements large-scale cryptocurrency mining projects with the support of companies subject to sanctions.
Neobridge is positioned as a service for making payments under foreign trade contracts within one business day in any currency, with low fees (starting at 0.2% for imports and exports) and under the supervision of russian regulators. The payment platform became the first in russia to conduct cryptocurrency transactions with foreign counterparties after Federal law № 282-FZ "On Digital Currencies and Digital Rights" came into effect.
Sistema-Crypto LLC is also developing a website that will provide a platform for cross-border payments (http://sistema-crypto.com)
Systema-Crypto LLC, through its subsidiaries, is developing data centers for cryptocurrency mining, which demonstrates its focus on the cryptocurrency sector. In particular, DC Magadan LLC is implementing a large-scale project — a mining data center with a design capacity of 150 MW. The strategic investor in the "Magadan" mining data center project is AFK Sistema PJSC, and the project’s energy partner is RusHydro PJSC (TIN 2460066195). The project is being carried out with the support of the russian federation government, represented by the Magadan region government.

Rusnarbank is a russian commercial bank that directly serves representatives of law enforcement agencies and participants in the war against Ukraine. The bank provides specialized financial services, preferential terms, and payment deferrals to servicemembers of the russian armed forces, the russian national guard, the FSB, and other law enforcement agencies involved in the aggression against Ukraine, as well as to their family members.
The bank also provides large-scale guarantees for government procurement, including as part of the fulfillment of the state defense order. Rusnarbank’s portfolio of bank guarantees exceeds 84.1 billion rubles, with approximately 68.9% consisting of express guarantees used to secure procurements in accordance with russian Federal Law № 44-FZ, including as part of the fulfillment of state defense contracts.
In addition, Rusnarbank is integrated into the Financial Message Transmission System (SPFS) of the Central Bank of the russian federation, which serves as an alternative channel for russian banks to transmit financial messages to international systems. Through the SPFS, the bank conducts transactions in Chinese yuan and executes swap agreements, maintaining the ability to settle accounts with foreign counterparties despite sanctions restrictions.

Veybank is a russian credit institution that facilitates international payments and supports the foreign economic activities of russian businesses. The bank processes payments to foreign companies in China, the UAE, Turkey, Hong Kong, and other countries, facilitating and supporting the import and export operations of russian businesses. In addition, the bank is an official partner of the CORE OTC trading platform, which provides russian legal entities with services for organizing cross-border payments to foreign suppliers, particularly for settlements with Chinese counterparties.
The bank also directly serves borrowers participating in the war against Ukraine and their family members, offering them special lending terms and preferential payment deferrals.

"Finstar Bank" provides financial support for the foreign economic activities of russian business entities, including international settlements, foreign exchange control, payments to non-residents, the receipt of funds from foreign counterparties, the registration of foreign trade contracts, and related banking services. The bank also provides russian enterprises with financial solutions for organizing the procurement and supply of goods from China and other countries, ensuring the functioning of import supply chains.
The bank conducts transactions in Chinese yuan and offers clients specialized deposit products in CNY, enabling settlements in Chinese currency. Finstar Bank has conducted transactions in Chinese yuan using the banking infrastructure of the PRC, specifically through the Bank of China, which provides russian clients with access to international financial channels within Chinese jurisdiction.
In addition, Finstar Bank is included in the list of credit institutions that meet the requirements of Article 45 of Federal law № 44-FZ of the russian federation, which grants the bank the right to issue bank guarantees to secure bids and fulfill contracts in the field of russian public procurement.

Solid Bank is a russian universal bank that participates in providing financial support to servicemembers of the russian armed forces and in government procurement. The bank participates in the military mortgage program, providing loans to russian servicemembers for the purchase of housing, and publicly expresses its support for servicemembers of the russian armed forces in its official communications. In addition, the institution provides bank guarantees to secure government and commercial contracts, including procurement contracts under russian Federal law № 44-FZ, thereby providing financial support for the fulfillment of government orders.
The bank is also involved in developing alternative channels for the russian federation’s international financial transactions through Asian jurisdictions. In June 2026, British sanctions were imposed on the Lao Joint Development Bank (JDB) in connection with the provision of financial services to Solid Bank, indicating that the bank uses the financial infrastructure of a third country to conduct operations in the external financial environment. The bank is also expanding its operations in Chinese yuan, specifically offering clients deposit products in CNY, which broadens the possibilities for using currency instruments other than the russian ruble.

Rosveksell LLC is a russian public-private financial entity established at the initiative of the russian government to develop an alternative infrastructure for foreign economic settlements. 85% of the company’s shares are owned by A7 LLC, which is subject to sanctions, and 15% are owned by the state, represented by the russian ministry of finance. The project is being implemented in coordination with PSB Bank PJSC, which is one of the key banks in the russian financial system and, starting in 2025, will be the sole anchor bank for managing the state defense procurement program.
Based on Rosveksell LLC and its affiliated entities, an alternative system of financial instruments is being created to facilitate foreign economic transactions by russian business entities. In particular, digital bill instruments denominated in U.S. dollars, euros, Chinese yuan, and UAE dirhams are being used, which are positioned as an alternative to the traditional international payment infrastructure. These instruments involve the use of blockchain technology and the sanctioned stablecoin A7A5 and can be used by russian business entities to conduct cross-border settlements.
A separate area of activity for Rosveksell LLC is the creation of a financial infrastructure based on precious metals. The company is developing a digital platform for purchasing physical gold and "gold certificates," as well as issuing promissory notes backed by precious metals, thereby creating additional tools for preserving value and conducting transactions outside the traditional banking infrastructure.

JSC RUSCRYPTOTRADE is a russian financial company involved in facilitating cross-border payments for russian clients subject to international sanctions.
The company is part of a network of payment agents that facilitate the transfer of funds from the russian federation to accounts at foreign banks. The scheme utilizes accounts opened at PSB Bank, a russian bank subject to sanctions, to which clients transfer funds and receive the corresponding amount in their foreign bank accounts.
The company acts as an intermediary and is a Central Bank of the russian federation accredited supplier of cryptoassets for the "Farvater-Finance" platform.
The company’s director and principal shareholder is Alan Kiryukhin, who is affiliated with a number of commercial entities linked to Andrei Patrushev, the son of Nikolai Patrushev.

JSC FARWATER FINANCE is a russian financial company operating in the field of cross-border payments.
The company acts as a payment agent for cross-border transfers, enabling russian clients to send funds abroad despite current international financial restrictions. Under the established mechanism, a client transfers rubles to an account at PSB, a russian bank subject to sanctions, and then receives the equivalent amount (minus a commission of up to 1.25%) into a bank account outside the russian federation.
The company also operates the "Farvater-Finance" payment platform under the Central Bank of the russian federation’s experimental legal framework.
The director and principal shareholder of JSC "FARVATER FINANCE" is Alan Kiryukhin, who is affiliated with a number of commercial entities linked to Andrei Patrushev, the son of Nikolai Patrushev.

The A7 cross-border payment network is a specialized russian financial infrastructure created in late 2024 to facilitate foreign trade settlements and circumvent Western sanctions. The official founders were Moldovan businessman Ilan Shor (convicted in absentia in Moldova) and the sanctioned russian state-owned PSB Bank PJSC (Promsvyazbank). In the russian corporate registry, PSB holds a 49% stake, while information about the majority owner is concealed in accordance with russian law (Shor initially held 51%).
The network’s activities are publicly supported by the russian government and russian president vladimir putin, who participated in the opening of one of its branches via video link.
The A7 network is a leading instrument for the russian federation’s gray-market transactions. The organization processes nearly 20% of all of russia’s foreign trade payments, amounting to over 100 billion U.S. dollars (about 7 trillion rubles) per year (in its first year of operation, the company reported transactions totaling over 86 billion U.S. dollars). About 65% of payments are made in Chinese yuan (and the share of transactions with China accounts for 78% of all transactions), with transfers to China taking 4 hours.
To conduct its operations, A7 uses a network of shell companies in third countries, including Kyrgyzstan, Hong Kong, the UAE, as well as other countries in Central Asia and West Africa.
To conceal the true purpose of shipments of military goods (in particular, components for drones), the network uses artificial intelligence to create forged invoices with realistic seals. Specifically, in March 2025, a Kyrgyz firm controlled by A7 transferred $1 million to a Chinese supplier for UAV parts, disguising the payment as a purchase of car polish and child car seats.
At the same time, the network uses cryptocurrency tools: the A7A5 digital token (pegged to the ruble) and its exchange for Tether (USDT) stablecoins. The volume of transactions through just one of the A7A5 token exchange services exceeded $2.2 billion. The network also uses the Grinex and Garantex cryptocurrency platforms.
The A7 has opened its first overseas offices in Nigeria and Zimbabwe and plans to expand into Latin America and the Middle East; it is opening offices in major cities across russia, as well as in the temporarily occupied territories of Ukraine in Donetsk and Sevastopol.

Operational payment agent for the A7 network. Enters into public adhesion contracts and facilitates cross-border online payments by russian importers (China, UAE, EU) in circumvention of sanctions restrictions through promissory notes issued by A7 LLC.