<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0607</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2026-05-29</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001468091</issuerCik>
        <issuerName>VEON Ltd.</issuerName>
        <issuerTradingSymbol>VEON</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002045605</rptOwnerCik>
            <rptOwnerName>Pompeo Michael</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>true</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>INDEX TOWER (EAST TOWER), UNIT 1703</rptOwnerStreet1>
            <rptOwnerStreet2>DUBAI (DIFC)</rptOwnerStreet2>
            <rptOwnerCity>DUBAI</rptOwnerCity>
            <rptOwnerNonUSStateTerritory></rptOwnerNonUSStateTerritory>
            <rptOwnerCountry>C0</rptOwnerCountry>
            <rptOwnerZipCode>00000</rptOwnerZipCode>
            <rptOwnerStateDescription>UNITED ARAB EMIRATES</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>American Depositary Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>90000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>American Depositary Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>148230</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2066954</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The issuer has agreed to convert these common shares into 82,678 American Depositary Shares, on a cashless basis.</footnote>
        <footnote id="F2">These American Depositary Shares and Common Shares are held directly by Impact Investments LLC, which is indirectly owned 50% by the reporting person. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.</footnote>
    </footnotes>

    <remarks>Exhibit List: Exhibit 24 - Power of Attorney.</remarks>

    <ownerSignature>
        <signatureName>/s/ Charles Alex Gish, as Attorney-in-Fact</signatureName>
        <signatureDate>2026-06-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
