Russia announces bonuses for Sochi Olympic medalists

Sochi Olympic medals

Russians who win gold medals at the Sochi Olympics will also win prize money.

The Russian government announced the bonuses for medals on Saturday, according to R-Sport. Gold medalists will receive about $122,000, silver medalists will receive $76,000, and bronze medalists will get $46,000, according to The Associated Press.

Russian officials hope their nation will finish in the top three in the medal standings. It will have tough competition from winter sports powers Norway, Germany, the U.S. and Canada, which are expected to dominate the medal table in Sochi.

In 2010, Russia was sixth in the overall medal standings with 15 and 11th in gold medals with three, a disappointing finish on both accounts.

Russia’s medal winners in 2010 received $100,000 (gold), $60,000 (silver) and $40,000 (bronze). Gold medalists also received cars.

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