We map how power operates across institutions, networks, markets, and the systems built to obscure it.

Independent, evidence-based analysis grounded in the public interest, tracking the systems, networks, and signals shaping global power.

For investors, policymakers, and analysts navigating geopolitical risk.

Track networks, flows, and signals shaping real-world power.

// WHAT WE TRACK

The networks, flows, and early signals that shape power before they become visible.

Sanctions and Regulatory Exposure

Where financial pressure builds before enforcement actions land.

Energy and Infrastructure Flows

The systems that move critical resources across borders.

Technology and Supply Chain Chokepoints

Dependencies that turn into leverage or disruption.

Shadow and Informal Networks

Private actors and gray-market systems shaping outcomes.

Conflict and Strategic Competition

Where states and non-state actors test the limits of rules, markets, and power.

// LATEST

Is Russia's Sanctioned Stablecoin Actually Working?

Is Russia's Sanctioned Stablecoin Actually Working?

A7A5's promoters call it a $34 billion success the West can't stop. Blockchain analysts have taken that number apart. But A7A5's more telling feature may be the interest it pays, and what that says about sanctions effectiveness.
A Kremlin-Backed Payments Network Shared a Dubai Address With Iran’s Arms Network

A Kremlin-Backed Payments Network Shared a Dubai Address With Iran’s Arms Network

How Moscow's digital payments platform A7, Russia's shadow fleet brokers, and an Iranian oil-smuggling network became Dubai neighbors, and what it means as Washington extends its waiver to June 17.
The Wrong Question About Russian Oil

The Wrong Question About Russian Oil

Washington's emergency crude waiver debate misses the point. The real question is what 65 days of licensed Russian oil flows built underneath — and whether that architecture can be dismantled at all.
A7A5 Rate Tracker

A7A5 Rate Tracker

Russia's sanctioned ruble stablecoin, A7A5, has paid interest nearly every business day since it launched, and each payment is written to a public blockchain. Frontline Atlas reconstructed all of them and checked the record against the issuer's stated formula and the Bank of Russia's rate decisions. The formula has held through five straight resets. What backs the yield is a sanctioned Russian defense bank.
Shadow Fleet Waiver Tracker

Shadow Fleet Waiver Tracker

Every vessel, every waiver, every flag change across the 30-day window when Treasury paused enforcement. The full dataset behind the Iran-war surge in Russian seaborne oil.
A7A5: The Minus-One Rule

A7A5: The Minus-One Rule

Russia's sanctioned stablecoin says its interest rate follows the central bank. We read all 358 postings on its ledger. It does, to the basis point. The next test comes Friday.
View all analysis →

// FEATURED IN & CITED BY

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