‘Amendments to Tourist Business in the Russian Federation Act are likely to reduce the number of operating travel agents, Director of Yekaterinburg Travel Ltd. Alexander Korzhev said to UrBC representative.

‘The small agents will not be able to find the money needed to provide them with the required financial guarantees,’ Mr Korzhev believes.

The State Duma of the Russian Federation adopted the amendments to Tourist Business in the Russian Federation Act after the second reading. This new version requires that all travel agents provide financial guarantees; the sum comes to 10m RUR for agents offering tours abroad.