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. Last Updated: 07/27/2016

Putin Seeks 'Rational' Sochi Spending

President Vladimir Putin said Monday that he would task the Prosecutor General's Office with overseeing how billions of dollars are spent to organize the 2014 Winter Olympics in Sochi.

In a move illustrative of the Kremlin's concern over endemic corruption in the country, Putin told a Cabinet meeting that he would ask the Prosecutor General's Office to form a working group to ensure that the money is spent "rationally" and allow "no embezzlement of state resources under any circumstances," RIA-Novosti reported.

Putin pledged $12 billion for Sochi's development in his speech to International Olympic Committee delegates in Guatemala last week.

Putin told the Cabinet that two-thirds of the money, to be allocated from the state budget, would be spent on infrastructure while the rest would be used primarily to finance construction of sports facilities.