After Sochi, Russia's Putin to Spend Billions on 2018 World Cup

July 12, 2014 11:55 PM

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After Sochi, Russia's Putin to Spend Billions on 2018 World Cup

As soccer's World Cup draws to a close in Brazil, Russia is about to spend billions on hosting the next tournament - expenditure that economists say could give Vladimir Putin an economic headache and leave his country with numerous taxpayer-funded "white elephant" stadiums.

Putin reportedly plans to spend $20 billion on Russia's hosting of the 2018 competition. His ambitious plan will see stadiums and infrastructure built over an area stretching 1,500 miles from the Baltic Sea in the west to the Ural Mountains that form the gateway to Asia.

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