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Russia brushes off sanctions impact on World Cup

Organizing committee of World Cup in Russia brushes off impact of sanctions, falling ruble

Russia brushes off sanctions impact on World Cup

MOSCOW (AP) -- The organizing committee of the World Cup in Russia says sanctions against the country and the falling ruble will not drive up the cost of the 2018 tournament.

The United States and European Union have targeted Russian officials, oligarchs and companies with sanctions over the crisis in Ukraine.

The Russian ruble has fallen to record lows against the dollar and euro this year against the background of the sanctions and a sharp drop in the price of oil.

However, World Cup organizing committee head Alexei Sorokin denied the increased cost of importing construction materials would drive up the 664 billion ruble ($14.3 billion) budget.

He says "no revisions to the budget are being considered," in part because most of the construction materials are produced locally rather than imported.