Veon completes Russia exit as Vimpelcom sale closes

Amsterdam-listed mobile telecoms operator Veon said on Monday it had completed its exit from Russia as it closed the sale of its Russian business, Vimpelcom, to senior members of the Vimpelcom management team, led by CEO Aleksander Torbakhov.

Russia has steadily tightened exit requirements since Western companies started leaving in the wake of Moscow’s invasion of Ukraine in February 2022. Executives say navigating the rules is becoming harder.