MOSCOW, April 19. /TASS/. Russian President Vladimir Putin has signed a law regulating the preparation and holding of the World Friendship Games in Russia, with the document already being published.

The law defines the powers of all bodies involved in the World Friendship Games: the International Friendship Association (IFA), the organizer of the competition and the organizing committee. Thus, the IFA will deal with the issues of interaction with international sports federations related to the organization of the competition.

Funding will be provided from the federal, regional and local budgets, as well as taxes from gambling transferred to the organizer. According to it, the issuance of prizes in cash or otherwise to the winners and prize-winners of the games can be carried out by the IFA as established by the agreement on the preparation and holding of the Friendship Games. Earlier, Dmitry Pirog (United Russia), First Deputy Chairman of the State Duma Committee on Physical Culture and Sports said that the payment of prizes and bonuses to athletes at the World Friendship Games may be held in cryptocurrency to avoid sanctions.

In addition, the retail sale and consumption of alcohol is prohibited, as well as advertising of betting offices in stadiums during the Games.

Besides, the law provides for the peculiarities of advertising placement, trade activities during the Friendship Games, as well as transportation, and the order of free transport usage. It also specifies the peculiarities of radio frequency spectrum regulation during the preparation and holding of the competitions, the rules for the use of symbols, the sale of admission tickets.

The law comes into force from the date of its official publication.

The World Friendship Games

According to the explanatory note to the law, the World Friendship Games represent a new format of international sports competition, supporting the principle of universal accessibility of sport and non-discrimination of any group of athletes.

Earlier, the president signed a decree on holding the competition in Moscow and Yekaterinburg in 2024. A total of 5,500 people will take part in the Games, the total prize fund will amount to 4.6 billion rubles ($49 mln). The opening and closing ceremonies will be held in Moscow, with part of the program to be held in Yekaterinburg.