Techub News reports that Russia is working to establish an alternative cross-border payment network in Africa. The core of the plan is the encrypted network A7, which is 49% controlled by Promsvyazbank, a bank in Russia’s defense sector that is under sanctions, with the remaining 51% held by the exiled Moldovan businessman Ilan Șor. The A7 network settles using a ruble-pegged stablecoin called A7A5, which has been granted official status as a “digital financial asset” in Russia. Russian Foreign Minister Lavrov described it as Russia’s “first international financial platform” at the Russia-Africa meeting held last December, and claimed that Nigeria and Zimbabwe have already joined the platform, calling on more African partners to follow suit.