How Russian payment network ‘A7’ launders money to finance war | FT #shorts
Financial TimesWhen Russia launched its full-scale invasion of Ukraine in 2022, one of the big measures taken by the western allies of Kyiv was to cut Russia off from the global financial system. The idea was that if Russia could not pay bills abroad it would struggle to import essential goods it needed to prosecute the war. In response, Russia built A7. The FT has had access to an unprecedented leak that reveals the inner workings of A7. The group promises to be a new way of doing banking. But actually, it’s a huge money-laundering factory that managed to move billions of dollars through traditional banks, explains the FT’s Chris Cook. ► Enjoying FT content? Get a daily slice of the very best FT journalism with FT Edit. Free for 30 days then just £4.99 a month See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132. ► Check out our Community tab for more stories: https://www.youtube.com/@FinancialTimes/community ► Listen to our podcasts: https://www.ft.com/podcasts ► Follow us on Instagram: https://www.instagram.com/financialtimes ► Follow us on Instagram: https://www.tiktok.com/@financialtimes