Russian First Deputy Prime Minister Manturov Appointed Chairman of A7 Supervisory Board, Finance Minister Siluanov and Others Join

Russian First Deputy Prime Minister Manturov chaired the first meeting of the supervisory board of cross-border settlement system A7 and assumed the position of chairman of the supervisory board. The meeting was attended by Finance Minister Siluanov, Energy Minister Tsivilev, PSB Chairman Pyotr Fradkov, A7 Chief Executive Officer Ilan Shor, and heads of multiple ministries. The supervisory board functions as an advisory body that will discuss the development of international settlement and the stability of settlement infrastructure. Founded in autumn 2024, A7 is 49% owned by Russian state-owned bank PSB and 51% owned by Ilan Shor, providing cross-border settlement services for Russian importers and exporters, and has previously been sanctioned by the United States and the United Kingdom. A7 itself has not yet announced the establishment of the supervisory board.

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