US Edition$500M in Telegram Bonds Frozen in Russia Due to Sanctions – FT
Western sanctions on Russia’s National Settlement Depository have frozen $500 million of Telegram bonds, restricting access despite buybacks of other 2026-maturing debt.
- Bloomberg on January 6 said about $500 million in Telegram bonds are blocked at Russia's National Settlement Depository, sanctioned by the European Union, United States and Britain.
- Telegram issued multiple bond offerings in recent years, including a $1.7 billion offering in May 2025 to buy back debt, exposing it to Russian capital markets, and most 2026 bonds were repurchased before the freeze.
- Most bonds maturing in 2026 were repurchased, according to sources familiar with discussions between Telegram management and investors, but purchases paused after United States sanctions on Russia's largest oil producers in October.
- Telegram reported revenue up more than 65% to $870 million yet posted a $222 million net loss, with frozen funds adding financial strain.
- Despite Pavel Durov's attempts to distance Telegram from Russia and the company's relocation to Dubai, legal proceedings in France delaying IPO plans and the Toncoin write-down heighten strategic risks.
23 Articles
23 Articles
Telegram asserts its independence from Russia, but the Financial Times claims that 500 million dollars of bonds are now "trapped" in the country. ...
Telegram Struggles to Manage $500 Million in Debt After Bonds Frozen in Russia
Telegram, the messaging app co-founded by Pavel Durov, is facing challenges due to its financial exposure in Russia, Bloomberg reported on January 6. According to a Bloomberg report, $500 million in Telegram bonds were frozen in Russia’s central securities depository as a result of Western sanctions imposed after the invasion of Ukraine. Every article pushes back against disinformation. Your support keeps our team in the field. DONATE NOW Despi…
According to the Financial Times, this indicates the financial vulnerability of the messenger to the Russian market, despite the fact that founder Pavel Durov publicly tried to distance himself from Moscow.
Messenger Telegram bonds worth about $500 million have been blocked by the National Depository of Payments (NDD) in Moscow as part of Western sanctions against Russia, writing Financial Times with reference to sources.
Unlike rivals such as Meta and X, Telegram has fewer than 100 full-time employees and has only recently begun generating substantial revenue from its 1 billion users.
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