Due to sanctions against Russia, Telegram’s bonds worth about $500 million are blocked at the Russian National Settlement Depository (NSD). This situation complicates the process of redeeming part of the bonds that mature in 2026.
According to the sources, Telegram has informed investors and promised that the debt on the frozen bonds will be repaid in full before the maturity date. Then the paying agent and the depositary will decide whether it is possible to transfer these funds to Russian investors.
The FT also published Telegram’s financial indicators for the first half of 2025. According to the documents, the company’s revenue increased by more than 65 percent year-on-year to $870 million. About a third of this amount was obtained from “exclusive agreements”. Although the details of the agreements were not disclosed, the FT notes that they may be related to cryptocurrency projects.
