Support The Moscow Times!

Putin Secretly Honors Oligarchs for Olympic Investment

Putin shaking hands with oligarch Oleg Deripaska in a file photo.

President Vladimir Putin secretly awarded medals to billionaire businessmen and heads of state-owned companies who invested in the Sochi Winter Olympics, Vedomosti reported Monday.

Gazprom CEO Alexei Miller, Sberbank president German Gref, as well as oligarchs Vladimir Potanin and Oleg Deripaska were among the recipients of state honors at an awards ceremony in March, Vedomosti said, citing people who attended the event.

This year's Sochi Games were the most expensive in history with a price tag of $51 billion. After a run-up marred with corruption allegations — which the Kremlin denies — and reports of spiraling costs, Russia pulled off a widely praised Games and topped the medal table. The government poured massive recourses into preparations, and leaned on state- and tycoon-owned companies to contribute.

The Kremlin's press service announced in March that it was awarding state distinctions to certain government officials and organizers of the Games in a closed ceremony, but did not reveal that investors in the Olympic mega-project would also be honored, Vedomosti reported.

Putin's press secretary, Dmitry Peskov, declined to comment on the awards ceremony to Vedomosti.

See also:

Ukrainian Oligarch Akhmetov Strives to Claw Back Influence in Separatist East

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more