727 FinancePANews October 16 news, according to Interfax, Russian First Deputy Prime Minister Manturov chaired the first meeting of the supervisory board of the cross-border settlement system A7 and became its chairman. Finance Minister Siluanov, Energy Minister Tsivilev, PSB Chairman Pyotr Fradkov, A7 CEO Ilan Shor, and heads of several ministries attended the meeting. The supervisory board is an advisory body and will discuss the development of international settlements and the stability of settlement infrastructure. A7 was established in the autumn of 2024, with Russian state-owned bank PSB holding 49% and Ilan Shor holding 51%. It provides 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.
First Deputy Prime Minister Manturov appointed Chairman of A7 Supervisory Board, Finance Minister Siluanov and others join
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