Russia's First Deputy PM Manturov Becomes Chairman of A7 Supervisory Board; Finance Minister Siluanov Among New Members

PANews October 16 news, according to Interfax, Russia's First Deputy Prime Minister Manturov chaired the first meeting of the supervisory board of 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 that will discuss the development of international settlements and the stability of settlement infrastructure. A7 was established in autumn 2024, with Russian state-owned bank PSB holding 49% and Ilan Shor holding 51%, providing cross-border settlement services for Russian importers and exporters, and has previously been sanctioned by the US and UK. A7 itself has not yet announced the establishment of the supervisory board.