Russian TV ad prices too high for Procter and Gamble

Procter and Gamble is still in a row with Russia's national Channel One over this year's advertising costs.

The company decided to temporarily pull ads because of new tariffs introduced at the start of this year, but it says there is no basis for ending the long-term TV advertising contract with the Channel.

The average industry increase for new rates has been about 60 per cent, while Channel One rates were up a further ten per cent, with advertising slots becoming shorter.

Procter and Gamble says it wants to find a suitable outcome for both parties.