Russian media reports quoted Vitaly Mutko, the Russian Sports Minister, as telling journalists: "There is a budget deficit for the year 2015; the Organising Committee will rely on donations from individuals."

While local commentators emphasised that the Committee did not handle construction and that the sums involved would hence be relatively small, Mutko's acknowledgement is likely to spark speculation about where else the Government might find itself unexpectedly short of funds.

The sports industry will be among those watching developments closely, with both aquatics and fencing - a sport whose world governing body is headed by Alisher Usmanov, Russia's richest man - due to stage World Championships in Russia next year.

They will be followed by ice-hockey in 2016.

The logo for the 2018 World Cup was launched during a ceremony in Moscow in October but an economic crisis in Russia has left organisers there relying on donations from individuals ©Getty Images



The Russian economy has been hit by a damaging triple-whammy in recent months, with the plummeting oil price adding to pressures already unleashed by international sanctions in response to the situation in Ukraine/Crimea and the shrinking value of the rouble.

Interest rates have increased sharply and a recession is feared next year.

Russia plans to stage the 2018 World Cup at 12 stadia in 11 different cities.

While it has regained ground in recent days, the extent of the Russian currency's decline can be gauged from the total budget for the tournament, which, at RUB664.1 billion, converted to $20.5 billion (£13.2 billion/€16.8 billion) when announced in 2012, but more like $13 billion (£8 billion/€10.5 billion) today.


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