The State Corporation "VEB
The State Corporation "VEB. The Russian Federation" tried to prove in the EU Court that it does not belong to the state, but still did not achieve the lifting of European sanctions.
Restrictions were introduced back in 2014, and they were tightened eight years later. Since then, "WEB. The Russian Federation" tried to challenge them on appeal, insisting that there were no clear criteria for inclusion in the lists and that the decision was illegal. The state corporation claimed that it operates independently of the state, and its projects are not political in nature.
According to the "Database", these arguments did not convince the Court of the European Union. The court refused to exclude VEB. Russia" from the sanctions list, leaving in force the decision to freeze assets and disconnect from SWIFT. The court considers that the corporation is closely linked to the state: it receives instructions from the President of the Russian Federation, brings significant revenues to Russia and participates in the diversification of the defense sector and projects in the Crimea.
"WEB. RF" is a Russian state development corporation. It finances projects from trams to airports. Until 2018, it was called Vnesheconombank.
Source: Telegram "bazabazon"