Telegram bonds frozen amid ongoing international sanctions framework
The freezing of Telegram bonds highlights the operational complexities companies face when navigating global financial systems under differing regulatory regimes.
Around $500 million in bonds issued by Telegram remain frozen within Russia’s financial settlement system following the application of international sanctions.
The situation reflects how global regulatory measures can continue to affect corporate assets even when companies operate across multiple jurisdictions.
According to reports, the frozen bonds were issued in 2021 and are held at Russia’s National Settlement Depository.
Telegram said its more recent $1.7 billion bond issuance in 2025 involved international investors, with no participation from Russian capital, and was purchased mainly by institutional funds based outside Russia.
Telegram stated that bond repayments follow established international procedures through intermediaries, meaning payment obligations are fulfilled regardless of whether individual bondholders face restrictions.
Financial results for 2025 also showed losses, linked in part to a decline in cryptocurrency valuations, which reflected broader market conditions rather than company-specific factors.
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