Russia has tightened exit requirements since Western companies began leaving the country after the commencement of the invasion of Ukraine in February 2022.
The deal does not provide any buy-back arrangements, the company said in a press release.
VEON Group CEO Kaan Terzioglu commented: “The closing of the sale and the completion of our exit from Russia allow us to fully focus our energy on the way forward, meeting the growing demand in our markets – Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan – with our digital operator strategy.
“I am pleased to note that we are now in a much stronger position to deliver our strategic priorities.
“We would like to thank all our stakeholders and regulatory bodies, including U.S. Treasury, who have supported our company through this process.”
