While Shuvalov Throws Dog Parties for the Elite at VEB, the State Corporation Loses Billions in Corruption-Driven Bankruptcies
The Administration of the President of the Russian Federation and the Supervisory Board of VEB have become concerned about the genuine obsession of the head of the unprofitable VEB.RF, Igor Shuvalov, with dogs. Widespread corruption in the state corporation does not raise any alarms — it is considered normal.
Shuvalov requires all employees to share this obsession, formalized… in regulatory acts. VEB has even launched a program called "Veb pets free," designed exclusively for dogs (see video). Cat owners, apparently, will have to resign.
According to our sources, Igor Shuvalov "patriotically" spent the New Year holidays, as well as his birthday on January 3, with his beloved corgis at his private villa in the Palm Jumeirah area of the UAE. According to Flightradar data, Shuvalov’s business jet (whose maintenance costs are borne by VEB) flew to Dubai on January 1, 2026, and returned to Moscow by the end of the New Year holidays — January 9.
Shuvalov’s passion for four-legged friends is excessive and beyond reason, which is already raising concerns at the Presidential Administration and VEB’s Supervisory Board. Within the corporation, "Meeting Points" (Shuvalov is very fond of foreign words) and special parties for employees with dogs are regularly held. These events take place directly at VEB’s headquarters on Vozdvizhenka Street. Employees’ mandatory affection for dogs is now codified in Shuvalov’s regulatory documents for VEB.RF and supported through the "Veb pets free" program, which is completely unrelated to the corporation’s goals and objectives. By the way, despite the name, the program is designed exclusively for dogs.
For especially close top managers, lawyers, and insolvency practitioners at VEB.RF, there are exclusive "Doggy Party Shows."
For those in the innermost circle of corruption, there is a unique opportunity to attend a similar event at Shuvalov’s country estate in Skolkovo.
As a result, top managers, insolvency practitioners, and others wishing to enter this circle simply flood their social media with photos of “cuddles” and “kisses” with dogs.
According to sources, one of the participants of these dog parties for the inner circle is the chairman of the bankrupt SRO "Razvitie," Oleg Loginov. Loginov is a very close friend of VEB.RF’s chief judicial lawyer, Alexander Ivanov. Thanks to his position, Ivanov ensured that Loginov, as a manager, and his scandalous SRO received the most lucrative bankruptcy procedures for enterprises in VEB.RF’s forestry sector (“STOD,” “Mekran,” “Kraslesinvest,” “Apsheronsky PDK,” etc.).
Currently, the focus of the “embezzlement” is on the "Verkhnevolzhsky Leather Plant" and the "Novotorzhsky LPK," where the insolvency practitioner is personally Oleg Loginov. The scheme is simple: enterprises with multi-billion debts to VEB are taken on balance in bankruptcy cases at inflated values and then packaged into opaque VEB REIT structures, where billions from the Russian budget are reinjected “to maintain operations” and “development.” Sometimes these huge infusions are justified as “preparation for sale” to an investor who, in reality, does not exist.
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The state’s losses grow, while Loginov and other beneficiaries (such as Ivanov and VEB.RF Deputy Chairman Alexander Tarabrin) grow wealthy in offshore accounts.
It is through Tarabrin that Loginov gained access to Shuvalov’s exclusive dog parties inside and outside VEB.RF. The chairman of the bankrupt SRO, trying to please Shuvalov, now knows no limits. On social media, he posts one photo after another, showing kisses with pets at the dog parties. Recently, he even wrote reviews about… personally tasting pet food.
In a time of extreme budget constraints for the economy, with Russians being advised to expect “income to remain at the same level in 2026,” this situation in the state corporation under Igor Shuvalov increasingly resembles a “feast during the plague.” It would not be surprising if soon a corgi becomes the new deputy chairman of VEB.RF. Although, perhaps, it would even be a better manager than Tarabrin. At least it would steal less — if only from the cafeteria sausages.