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RELATED PARTIES (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure of transactions between related parties [abstract] |
Schedule of compensation paid to key management personnel | The following table sets forth the total compensation to our Board of Directors, Group Chief Executive Officer, Group Chief Financial Officer and Group General Counsel, who are considered to be key management personnel of the Company, as defined by IAS 24, Related Party Disclosures:
| 2024 | 2023 | 2022
Short-term employee benefits | 9 | 11 |  | 21 |
Share-based payment* | 19 | 11 |  | 9 |
Termination benefits | — | — |  | — |
Total compensation to the Board of Directors and senior management** | 28 | 22 |  | 30 |
*Share-based payment represents the expense as recognized in accordance with IFRS 2, Share based payments, under VEON Ltd.’s Deferred Share Plan, Short-Term Incentive Plan and Long Term Incentive Plans as described in N ote 5. ** The number of directors and senior managers vary from year to year. The group of individuals we consider to be senior managers has changed in recent years, including in 2022, a determination that the chief executive officers of our operating companies should no longer be classified as senior managers and in 2023 the reduction in the Group Executive Committee. As a result, for 2023 reporting, we have changed the total compensation perimeter for the Board of Directors and senior managers to reflect this internal view. Total compensation paid to the Board of Directors and senior management approximates the amount charged in the consolidated income statement for that year with the exception of the share-based payment in 2024, 2023 and 2022.
Schedule of compensation paid to group executive committee | The following table sets forth the total remuneration expense to the Group Executive Committee for the periods indicated (gross amounts whole US$ equivalents). For further details on compensation and changes to the Board of Directors and Group Executive Committee, please refer to the Explanatory notes below.
In whole US dollars | Kaan Terzioglu | Joop Brakenhoff | Omiyinka Doris | Serkan Okandan
Group CEO | Group CFO and Former Group Chief Internal Audit & Compliance Officer* | Group General Counsel** | Former Group CFO***
2024 |  |  |  |
Short-term employee benefits |  |  |  |
Base salary | 1,376,535 |  | 817,739 |  | 700,919 |  | — |
Annual incentive | 2,150,836 |  | 512,723 |  | 219,738 |  | — |
Other | 320,801 |  | 137,627 |  | 120,714 |  | — |
Long-term employee benefits | — |  | — |  | — |  | — |
Share-based payments **** | 6,203,914 |  | 1,767,039 |  | 1,667,980 |  | — |
Termination benefits | — |  | — |  | — |  | — |
Total remuneration expense | 10,052,086 |  | 3,235,128 |  | 2,709,351 |  | — |
2023 |  |  |  |
Short-term employee benefits |  |  |  |
Base salary | 1,430,580 |  | 739,619 |  | 655,998 |  | 467,128 |
Annual incentive | 1,171,039 |  | 425,894 |  | 398,268 |  | 529,839 |
Other | 222,048 |  | 228,442 |  | 114,495 |  | 439,509 |
Long-term employee benefits | — |  | — |  | — |  | — |
Share-based payments ***** | 5,022,173 |  | 1,386,365 |  | 716,884 |  | 1,557,481 |
Termination benefits | — |  | — |  | — |  | — |
Total remuneration expense | 7,845,840 |  | 2,780,320 |  | 1,885,645 |  | 2,993,957 |
* Mr. Brakenhoff was appointed as Group Chief Financial Officer on May 1, 2023. ** Ms. Doris was appointed as Group General Counsel on June 1, 2023. *** Mr. Okandan remained a GEC member until April 30, 2023. **** The share-based payment expense as shown above is recognized in accordance with IFRS 2. This expense includes DSP awards and LTIP market condition-based awards granted in 2023 and 2024, which will vest on December 31, 2025 and December 31, 2026, respectively. It also includes LTIP market condition-based award granted in 2022 that did not vest as of December 31, 2024 as the market condition not satisfied, accordingly the recipients did not receive these awards. Refer to Note 5 for further discussion of the awards and share-based payment accounting policies. Individual awards for each Group Executive Committee member where applicable are detailed within Item 6B – Compensation. ***** The share-based payment expense as shown above is recognized in accordance with IFRS 2. This expense includes DSP awards and LTIP market condition-based awards granted in 2022 and 2023, having vesting date of December 31, 2024 and December 31, 2025, respectively. It also includes LTIP market condition-based award granted in 2021 that did not vest as of December 31, 2023 as the market condition not satisfied, accordingly the recipients did not receive these awards. Refer to Note 5 for further discussion of the awards and share-based payment accounting policies. Individual awards for each Group Executive Committee member where applicable are detailed within Item 6B – Compensation.

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