Bank chief puts true cost of Sochi Winter Olympics at $19bn (not $2.9bn)

Sochi Winter OlympicsThe true cost of hosting the Sochi Winter Olympics was $19bn – not the official tally of $2,9bn, VTB 24 CEO Mikhail Zadornov claimed in a television interview over the weekend. While the Kremlin disputes his figures, they correspond to those released by the Anti-Corruption Foundation, the organisation headed up by opposition leader Alexei Navalny, which estimates that around $10.4bn of the $19bn came from the federal budget,