Moldovan fugitive oligarch Ilan Shor has become one of the Kremlin's most important unofficial operatives in Moldova’s domestic politics. He is funded by some of Russia’s richest oligarchs, close to Russian President Vladimir Putin, and is helping Russia circumvent the extreme sanctions regime, financing political influence campaigns abroad and maintaining access to international financial networks, according to an investigation by Novaya Gazeta Europe published last week.

The investigation portrays Shor as a uniquely valuable intermediary whose activities span international payments, cryptocurrency, sanctions evasion, media influence and election interference across the post-Soviet space, especially in EU candidate Moldova.

In his native Moldova, Shor was sentenced in absentia to 15 years in prison for his role in the country's notorious 2014 banking scandal, often referred to as the "theft of the century", in which roughly $1bn disappeared from Moldova's banking system into a black hole controlled by Shor. Despite a concerted effort by the government, which hired corporate sleuths Kroll, the money was never recovered and Shor now lives in Russia. He is under sanctions from the EU, the UK and the US and has spent much of the past decade outside the country.

Yet since Russia's full-scale invasion of Ukraine, Shor's fortunes have changed dramatically.

According to Novaya Gazeta Europe, the businessman, who was previously barred from entering Russia on national security grounds, has become a trusted figure within Moscow's sanctions-circumvention infrastructure. The newspaper cites earlier reports that Russian officials once described him as a man who "corrupts everyone he sees", but argues that precisely this ability to build relationships and networks has made him valuable to the Kremlin.

At the centre of Shor's Russian empire is A7, a financial platform that he publicly presented to Putin during the Eastern Economic Forum in Vladivostok in 2025. Shor described the company as an international payments hub created together with Promsvyazbank and supported by state development institution VEB.RF.

According to the investigation, A7 has evolved into one of the largest alternative payment systems serving Russian companies struggling with sanctions-related restrictions on international transfers.

"Shor now provides major players in Russia and their foreign partners — above all oil companies and importers of sanctioned goods — with a turnkey service," one shadow banker familiar with the business told Novaya Gazeta Europe.

Another source described Shor as "a point of entry" into a global network of payment platforms and intermediaries.

"He sits there with a notebook, writing down and accounting for everything around him," the source said. "Nothing new has been invented. It's as old as the world: they pay him a tithe, and he keeps the books."

The investigation also highlights the rapid growth of A7A5, as IntelliNews reported, a-backed stablecoin launched in January 2025 that plays a central role in making sanctions-busting payments. According to blockchain analytics firm Elliptic, transactions worth more than $100bn have passed through the cryptocurrency by 2026. The token is backed by deposits held at Promsvyazbank and became increasingly popular after customers were allowed to purchase it directly using bank cards.

The US subsequently imposed sanctions on several companies linked to the project, including A7 and associated entities in Russia and Kyrgyzstan. The EU later sanctioned the A7A5 token itself.

Beyond financial services, Novaya Gazeta Europe reports that Shor has become involved in financing parts of Russia's shadow tanker fleet, which transports sanctioned Russian, Iranian and Venezuelan oil outside Western oversight mechanisms. The investigation cites previous reporting that companies connected to Shor have provided funding to tanker-owning entities involved in these operations.

His influence extends into politics as well.

After relocating to Russia, Shor established the Eurasia Foundation, which according to financial statements spent RUB24bn ($300mn) over two years on media projects, grants, blogger training programmes and youth exchanges across the former Soviet Union. Officially, Shor said the foundation exists to preserve "traditional values" and resist Western influence. However, Novaya Gazeta Europe cites multiple journalistic investigations and Moldovan police findings alleging that the organisation was used to buy votes during Moldovan elections and the country's referendum on EU accession.

The newspaper also claims to have identified financial links between Shor's network and structures associated with Russian billionaire Roman Abramovich. Among the entities cited are companies linked to mining and steel group Evraz, where Abramovich was historically the largest shareholder. According to the investigation, more than RUB7bn flowed into companies connected to Shor from the Kachkanar Mining and Processing Plant, part of the Evraz group. The report also traces tens of billions in loans through intermediary companies that subsequently financed projects linked to Shor's business and political activities.

Abramovich's representatives have previously denied wrongdoing and Novaya Gazeta Europe notes that amendments were made to the article to include the position of his press office. Abramovich has regularly been accused of working closely with the Kremlin, but he has become litigious and won multiple defamation cases against the press accusing him of being “close to Putin.”

The broader significance of the investigation lies in what it reveals about Russia's adaptation to sanctions. Four years after the invasion of Ukraine, Moscow has constructed an increasingly sophisticated ecosystem of intermediaries, alternative payment channels, cryptocurrencies and informal financial networks that allow trade to continue despite growing restrictions.

According to Novaya Gazeta Europe, few individuals have become more important to that system than Shor. Once known primarily as a disgraced Moldovan businessman, he now appears to occupy a position at the intersection of Russia's sanctions-evasion efforts, political influence operations and parallel financial architecture. For the Kremlin, the investigation suggests, Shor has become far more than a businessman. He has become a strategic asset.