Telegram’s Access To $500 Million In Debt Curtailed By Russia Sanctions: Report

Telegram had issued several bond offerings to refinance and buy back existing obligations, which are allegedly frozen in Russia.

Anushka Basu·Stocktwits

Published Jan 06, 2026 | 1:56 AM EST

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Nearly $500 million in Telegram-linked Russian bonds were allegedly frozen under Western sanctions, as per the Financial Times.
The freeze limits Telegram’s ability to access or refinance that portion of its outstanding debt.
Toncoin (TON) traded higher at $1.90, with retail sentiment for TON in ‘bullish’ zone on Stocktwits.

$500 million in Russian bonds linked to Telegram allegedly were frozen because of Western sanctions, according to the Financial Times.

On Tuesday, the Financial Times reported that the bonds are held at Russia’s National Settlement Depository, which is under asset freezes by the EU, U.S., and U.K. in the wake of Russia’s invasion of Ukraine in 2022. The assets are now effectively frozen, handcuffing Telegram's ability to tap or refinance that portion of its debt.

Telegram had issued several bond offerings in recent years, raising about $1.7 billion altogether last May, to refinance and buy back existing obligations. The company has repurchased most bonds that will mature this year. According to the report, people familiar with investors said that now the $500 million is frozen in Russia.

Previously, Telegram had said it wanted to pay the frozen bonds at maturity but was unable to do so due to custodians and sanctions rules. The current event comes months after the company had been considering an initial public offering. However, those plans have reportedly been put on hold amid legal proceedings against Durov in France.

Toncoin Edges Higher

The Open Network, developed by Telegram, also has a cryptocurrency called Toncoin (TON). TON was trading at $1.90, up over 2% in the last 24 hours. On Stocktwits, retail sentiment around Toncoin remained in’bullish’ territory, with ‘high’ chatter levels over the past day.

Telegram’s self-custodial wallet launched in the U.S. in December last year, which allowed over 1 billion users to unlock TON tokens. The platform also has recent integrations, such as USDT on TON, and viral mini-apps, such as Notcoin (NOT) and Caw Dogs (DOGS).

Read also: XRP Jumps 11% On ETF Inflows While Analysts Factor In A Bitcoin Breakout

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