: :inin Kyiv (EET)

Oligarchs unload Sochi Olympics assets to recoup investment


SOCHI, Russia (AP) — The ski jump sits shrouded in mist, its coat of snow undisturbed by any athletes hurtling down the ramp to take off into the air.

A year ago, the jump bustled with activity at the Sochi Olympics as the world’s best ski jumpers — including women, for the first time — competed for gold.

Two key investors have unloaded properties built for the Olympics at a combined cost of $3 billion, a spokesman to Russia’s deputy prime minister confirmed to The Associated Press.

The risks for Putin are magnified as the country enters recession and its rainy-day funds dwindle, …read more

Source: San Francisco Chronicle

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