The upper house of Russia’s parliament has passed a bill calling for fines of up to $30,000 for anyone scalping tickets to the 2014 Winter Olympics in Sochi.
The bill, passed Wednesday by the Federation Council, now needs to be signed into law by President Vladimir Putin.
For low-level scalping by individuals, the fine would be five to 10 times the ticket’s face value, but penalties will be heavier for scalping done as a business.
Russian Olympic Committee head Alexander Zhukov said, “We as Olympic organizers have an obligation under our contract with the International Olympic Committee to prevent speculative price hikes for hotels and Olympic tickets.”
Zhukov said there will be price limits for rooms in each hotel category.
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