The Court of General Jurisdiction of the European Union in Luxembourg rejected VEB.RF’s request to lift the sanctions. The Telegram channel discovered that the state corporation did not challenge the restrictions imposed in 2022 after reading the corresponding message on the court’s website.
Subscribe to RB.RU on Telegram
Judicial decision: “The claim is rejected.” In addition, VEB.RF will have to pay its own legal costs, as well as cover expenses “incurred by the Council of the EU.”
In addition to the parent company, the sanctions imposed in February 2022 for “an active role in the diversification of the defense sector” also include VEB.RF subsidiaries: the VEB Ventures investment fund, VEB Capital, InfraVEB, VEB- Leasing, Sibuglemet. , REC, etc.
In response to the accusations, VEB.RF traditionally maintained that it “does not participate in political life,” but rather invests “only in activities carried out in the civilian sector of the military industry.”
In early 2018, the state corporation already tried to appeal the sanctions (at that time, since 2014), but the court also rejected the claim.
Despite the sanctions, since March 2022, VEB.RF acts as external administration for companies leaving the Russian market (together with the DIA for financial organizations).
Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
