Experts Assessed the Impact of Sanctions on VEB's Venture Capital Activity Sanctions

On Tuesday, February 22, the US Treasury imposed sanctions against VEB and several of its companies, including the investment "daughter" of Veb Ventures. The sanctions imply that VEB and related structures will not be able to do business in the United States, their assets in this country will be frozen, its citizens and legal entities are prohibited from doing business with them without special permission from the Office of Foreign Assets Control.

The representative of VEB said that the sanctions will not affect his work: "Despite the increased pressure, VEB will continue to improve its financial stability and operational efficiency, properly fulfill its obligations, and use all available means to protect its rights and legitimate interests" .

However, experts interviewed by RBC said that both VEB’s investment division, Veb Ventures, and the companies in which it invested could be severely affected by the sanctions.