Russia slashes 2018 World Cup expenditure by $560m

Proposed World Cup football stadium in Rostov-on-Don

The Russian government today orders cuts estimated at $560m from the budget from the  2018 World Cup finals, as the economic crisis triggered by  low oil prices and Western sanctions continues to takes its toll. Announcing the cuts, Sports Minister Vitaly Mutko insisted that the building and renovation of stadiums would not be affected and that the government would primarily be cutting expenditure on ‘excess’ hotel accommodation.
President Vladimir Putin, meanwhile, told reporters in St Petersburg on Saturday that Russia would end up hosting the finals despite investigations into alleged corruption over the voting process leading up to the country being awarded the games. “We won in a free fight and we are going to host the World Cup,” he said.