Moscow - Russia is canvassing hard for sponsors of the 2014 Winter Olympic Games in Sochi despite the ongoing global financial crisis.

According to reports in the Kommersant newspaper, organizers are hopeful of securing a total income of around 2.13 billion dollars, but the figure has been described a unrealistic in some marketing quarters.

In November, International Olympic Committee (IOC) president, Jacques Rogge, dismissed claims that the figures were over ambitious but admitted that the Games in Sochi were "to a large degree" dependent on financial partnerships.

Organizers of the 2014 Olympics are hopeful of obtaining support from Russia's oil and gas industries with Kommersant reporting that huge oil concern Lukoil has already expressed an interest with negotiations to begin from December 22.

Last month, Deputy Prime Minister, Dmitry Kozak, who is in charge of preparations for the Games, said savings would have to be made in the Olympic budget due to the economic downturn.

Russia has pledged to spend 12 billion dollars on developing the Black Sea resort of Sochi, with 7 billion coming from public funding and the rest from private sources.

The IOC awarded the 2014 Olympics to Sochi last year, selecting it ahead of Salzburg in Austria and South Korea's Pyeongchang. Moscow previously hosted the 1980 Summer Olympics. (dpa)