Kyivstar continues to work as usual

Mobile communications operator Kyivstar says that sanctioned russian oligarch Mikhail Fridman has been removed from any management or business processes at the Veon telecommunications group, which the company is a part of.

This is stated in the message of the company, Ukrainian News Agency reports.

"The sanctioned person is not the final beneficial owner of Kyivstar, does not in any way influence the company's activities and does not receive any financial or other benefit. The specified sanctioned person is a minority shareholder of the Luxembourg company LetterOne, which is a minority shareholder of the international telecom group VEON. Back in February 2022, he was removed from any management or business processes at LetterOne and VEON, and his assets at LetterOne were frozen pursuant to US and UK financial sanctions," the statement said.

It is noted that Kyivstar continues to work as usual, providing digital electronic communication services to 24 million subscribers.

As Ukrainian News Agency earlier reported, the court arrested all corporate rights in Ukraine belonging to sanctioned russian oligarchs Mikhail Fridman, Petr Aven and Andrei Kosogov.

In particular, the court arrested 100% of Kyivstar PrJSC, which is controlled by russian oligarchs through the Dutch company VEON Ltd.

Kyivstar is part of the Ukrainian business unit of the international communications operator Veon (formerly VimpelCom), which provides most of its services in Ukraine under the Kyivstar brand.