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Russian oligarchs foot much of the bill for 2014 Olympics in Sochi as price of doing business

SOCHI, Russia - The mountains of Sochi are now home to Potanin's slope, Gazprom's gondola lift and Sberbank's ski jump. The nicknames used by locals and an army of construction workers leave no doubt about who is paying for the 2014 Winter Games: Russia's business powerhouses.

Russia's top Olympic investors complain over cost overruns

By Thomas Grove MOSCOW (Reuters) - Some of the biggest investors in Russia's 2014 Winter Olympics in the resort city of Sochi are requesting financial help from the government to help ease the burden from the Games' estimated $50 billion (33 billion pounds) price tag. In a letter obtained by Reuters on Tuesday and addressed to Deputy Prime Minister Dmitry Kozak, who is responsible for the 2014 Games, four major companies listed measures they want adopted to help them "secure a minimum return on investment".

Olympics: Sochi struggling with 'overspending, legacy'

State overspending on the 2014 Sochi Winter Olympics amounts to more than half a billion dollars while the government has failed to provide a lasting legacy for sporting venues, according to an official audit report. Russia's federal audit office gave a damning verdict on preparations for the Sochi Games, as well as plans for dealing with the giant venues once the Olympics are over.

Olympics: Sochi natives brace for another year of construction

A year before athletes converge on Sochi for the Winter Olympics, the Russian seaside city remains a vast construction site, with traffic choking the streets and locals bracing for another year of nonstop work to transform their landscape. "Construction is everywhere, it is very stressful," said Sochi native Lidiya Naberezhnaya, who lives in the central part of the Black Sea resort city.

Putin says Russia will be ready for 2014 Sochi Olympics

* Takes IOC delegation on tour of Sochi venues * Progress raised by IOC chiefs * Concerns over costs, corruption before Games * Rights group says migrant workers being exploited By Alexei Anishchuk KRASNAYA POLYANA, Russia, Feb 6 (Reuters) - President Vladimir Putin told Olympic chiefs on Wednesday Russia would have its facilities ready in time to host the 2014 Winter Games in Sochi, despite rising costs and concerns about corruption and humans rights abuses.

Olympics: rights group slams Sochi worker abuses

International monitors Human Rights Watch took Russia to task Wednesday over abuses faced by migrant workers rushing to prepare for the 2014 Winter Olympics in Sochi, but Moscow quickly rejected the claims. In a report released a year before the February 7, 2014 start of the games, the US-based group said many construction workers from post-Soviet nations had their passports confiscated and worked 12-hour shifts with few days off at the Caucasus Mountains resort.

Sochi races to Olympic finish one year before Games

One year before Russia kicks off the 22nd Winter Olympic Games on February 7, 2014, its host city Sochi is one of the world's biggest construction sites, with works proceeding on schedule but declared a disaster by environmentalists. About 60,000 construction workers are on a 24-hour clock ensuring that new venues and transportation infrastructure are built on time in the city of 400,000 people wedged between the Black Sea and the majestic Caucasus range in southern Russia.
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