State Development Corporation "VEB.RF" considers Ukraine's actions in putting VEB subsidiary Prominvestbank's shares up for auction as illegal. "Ukraine has chosen to fully deprive VEB of its ownership of PIB shares. The formal reason for this was the decision by the Kyiv Court of Appeal, under which $140 million was recovered in favor of the Everest group of companies. These actions by the Ukrainian authorities violate not only international law, but also Ukrainian legislation, which prohibits VEB from being held liable for Russian debts. Under law, the property of VEB exists on a stand-alone basis and is not Russian property, with VEB itself an independent legal entity not liable for Russia, which has been held up in court on numerous occasions, including in foreign jurisdictions," VEB's Senior Vice President For Legal Affairs, Igor Krasnov was quoted as saying in the statement.