Russian parliament to consider fines for speculation of tickets for 2014 Olympics

The Russian government has introduced a bill on fines for violating the rules of selling tickets for the 22nd Olympic and 9th Paralympic Games of Sochi set for 2014. The parliamentary committee for constitutional laws and state construction is studying the document, ITAR-TASS reports.

Violations of tickets sales will be punished with 5-10-fold ticket prices for individuals, 10-20-fold ticket price for officials, at least 50,000 rubles. Business of individual entrepreneurs may be shut down for 3 months.

Legal bodies may be fined with 500,000-1,000,000 rubles and a shutdown of business for 90 days.

Violations will be considered at courts. Each process will take 10 days after reception of materials.

Olympic amendments to the Code of Administrative Violations will be passed in three months after passing of the bill and will be removed a year after the Olympic Games.

Hotel prices in the Krasnodar Territory will be regulated by the government depending on hotel category.

The British parliament increased fines for ticket speculations to 20,000 pounds ($32,000 or about 1,000,000 rubles) for the Summer Olympic Games in London.