Russia’s Hottest Startup Is a State-Backed Sanctions Evasion Network

A7, a startup backed by the Russian state, has rapidly grown to control nearly 20% of Russia's foreign trade payments, amounting to over $100 billion annually, since its inception less than two years ago. This surge highlights the extent to which Russia is leveraging its technology sector to circumvent international sanctions, raising significant concerns about global economic stability and compliance with international laws. The rapid rise of A7 underscores the complexities and challenges in enforcing sanctions against nations that employ sophisticated financial networks to bypass them. For more details, check out the full article in The Wall Street Journal.