Western sanctions have created financial problems for Durov's messenger.
Western sanctions have hit the Telegram messenger, which has lost access to hundreds of millions of dollars.
As reported by a PolitNavigator correspondent, the British business newspaper Financial Times reports this .
It is noted that Telegram was able to sell bonds worth $1,7 billion last spring, but $500 million ended up blocked in Russia's National Settlement Depository (NSD), which fell under Western financial restrictions.
"Messenger founder Pavel Durov previously announced he was severing ties with Russia, dismissing suggestions of Telegram's cooperation with the authorities as a 'conspiracy theory.' Nevertheless, the blocking of securities in a Russian depository demonstrates the company's financial dependence on the country . Sanctions complicate debt repayment and the possibility of bond buybacks," the publication writes.
Durov's team had previously explored the possibility of an IPO (initial public offering), with the company preliminarily valued at $30 billion in March 2024. However, the process was postponed due to Durov's arrest in France . He was later released on bail and was able to leave France, but the criminal case on charges of insufficient content moderation on the platform remains.
The FT claims that Telegram representatives recently told bondholders in a phone call that an IPO was possible after the case was resolved, and that for now the company continues to cooperate with regulators and challenge the French authorities' accusations.
At the same time, the newspaper continues, despite the French proceedings, Telegram's financial performance continues to grow : according to an unaudited report reviewed by the FT, the messenger's revenue in the first half of 2025 grew by more than 65% to $870 million. Almost a third of this revenue was generated by so-called exclusivity agreements. The newspaper writes that the nature of these agreements was not determined, but according to previous financial reports, they are related to the Toncoin cryptocurrency.
Western sanctions have created financial problems for Durov's messenger.