MOSCOW, April 28 (Itar-Tass) —— Gazprom Neft will conclude a long-term contract on title sponsorship with the Serbian sport club Crvena Zvezda within a next month. Kirill Kravchenko, the general director of Naftna Industrija Srbije (NIS), which is the Gazprom Neft daughter company, and the directorate of the Serbian sport club signed a relevant memorandum in Belgrade, the Vecernje Novosti newspaper reported on Saturday.

The Belgrade newspaper reported that under a new five-year contract the Russian company will increase the annual funding of a well-known Serbian sport club Crvena Zvezda from 2.2 million euros to five million euros.