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Russia Announces Cash Premiums For Olympic Medals

The Russian goverment has announced it will pay a premium of 4 million rubles ($134,000) to Russian athletes who bring home gold medals from the Olympic Games in London this summer.

According to an announcement in the Russian government newspaper "Rossiiskaya gazeta," silver medalists will get 2.5 million rubles ($85,000), while bronze medalists will pocket 1.7 million ($57,000).

The premiums are the same as were paid out by Russia to its Olympic champions following the 2008 Games in Beijing.

Russian corporate sponsors and local governments are also offering bonuses for Olympic gold.

The government of Chelyabinsk Oblast promised in December to pay $1 million to any local athlete who brings home London gold.

St. Petersburg officials are promising their athletes 1 million rubles ($33,000) for a gold medal.

Compiled from agency reports

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