According to CoinMeta, the U.S. Treasury Department has imposed sanctions on a network related to Russia, identified as A7, due to FinCEN tracing the network transferring over $17 billion through multiple companies to help countries such as Russia and Iran circumvent normal financial channels. On October 1st, the Treasury Department stated that this action combined designations by the Office of Foreign Assets Control with proposals to restrict transfers to A7's overseas sub-agents. A7 is described as a shadow banking network aimed at hiding sanctioned payments through what appear to be ordinary commercial transactions. The Treasury Department has listed the A7 network as a transnational criminal organization involved in operations with Russia, Kyrgyzstan, Nigeria, and Zimbabwe. The sanctions immediately resulted in the freezing of its assets and interests under U.S. jurisdiction.