VEB.RF

Designation identifiers

UKSL unique ID

RUS0253

OFSI group ID

14198

Designation type

Entity

Date designated

28 February 2022

Last updated

9 April 2025

Regimes

• The Russia (Sanctions) (EU Exit) Regulations 2019

Designation sources

• UK

Sanctions imposed

• Asset freeze
• Trust Services Sanctions
• Director Disqualification Sanction
• Prohibition on Correspondent banking relationships and processing payments

Official reasons

• VEB.RF is a state corporation established by the Russian Government to function as the national development bank and a state payment agent to a range of entities across sectors of strategic significance to the Government of Russia. VEB.RF is benefitting from and supporting the Government of Russia. VEB.RF is carrying on business as a Government of Russia-affiliated entity by receiving financial benefits from the Government of Russia. VEB.RF carries out activities in financial services in the Russian financial services sector, and is therefore carrying on business in a sector of strategic significance to the Government of Russia. The trust services sanctions were imposed on 21/03/2023.

Other information

• The prohibition on correspondent banking relationships and processing payments was imposed on 15/12/2023. The Director Disqualification Sanction was imposed on 09/04/2025.

Addresses

• Lines: Akademia Sakharova Prospekt
• Lines: Moscow
• Postcode: 107996
• Country: Russia