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MOSCOW, December 25 (R-Sport) – With less than six weeks to go until the start of the Winter Olympics in Sochi, the Russian cabinet approved almost $50 million in extra subsidies for the Games' local organizing committee on Wednesday.
No reason was given for the extra 1.6 billion ruble injection, which will be put towards the estimated $7 billion cost of hosting the Olympics themselves, rather than the vast infrastructure costs that have taken the Games’ total costs to around $50 billion.
Total government subsidies for the organizing committee now stand at 13.85 billion rubles ($420 million), although the organizing committee also draws revenue from sponsorship as well as contributions from state-owned companies.
The Olympics will run from February 7 through 23.
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The project of a Eurasian Union can be considered as a response to the consequences of neo-liberal globalisation, which led to economic and moral decline in the countries forming the Commonwealth of Independent States. It is part of a more general movement in world politics towards regionalisation.