According to According to Financial Times, the company is making efforts to minimize the negative impact of this situation on investors’ actions. Telegram has made several debt securities offerings in recent years, including a $1.7 billion bond issue in May 2025 to buy back existing debt. As a result, most of the securities maturing in 2026 were redeemed.
However, the company was forced to inform investors that about $500 million of the bonds remain blocked in Russia’s central securities depository due to Western sanctions. This suggests that Telegram continues to depend on Russian capital, and the sanctions are making debt repayments and bond buyback programs more difficult.
In this regard, the Financial Times recalls that the sanctions imposed by Western countries against Russia, including the asset freeze and restrictions against the National Settlement Depository (NSD), automatically put all Western issuers whose securities are held by Russian investors at risk as well.
