Veon Holdings B.V. launched the procedure in Great Britain for obtaining a postponement of redemption in 2023 of bonds worth $1.2 billion. Reason for postponing redemption Veon indicates the need to avoid double payment. In fact, Ministry of Finance of Russian Federation demanded that Vympelcom should secure its obligations to the holders of Eurobonds, and some of them have initiated legal proceedings. But such payments may not be recognized by Euroclear or Clearstream and liabilities will return to Veon Holdings B.V.
Veon Holdings B.V. launched the procedure in Great Britain for obtaining a postponement of redemption in 2023 of bonds worth $1.2 billion. Reason for postponing redemption Veon indicates the need to avoid double payment. In fact, Ministry of Finance of Russian Federation demanded that Vympelcom should secure its obligations to the holders of Eurobonds, and some of them have initiated legal proceedings. But such payments may not be recognized by Euroclear or Clearstream and liabilities will return to Veon Holdings B.V. 
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