MOSCOW - Russian companies have donated $30 million US ($35.5 million Cdn) so far into an athletes` fund to try and boost their country`s performance in Olympics and world championships. Business chiefs joined sports officials in reporting to President Vladimir Putin on the initiative in a Kremlin meeting broadcast on state-run television on Thursday. "We remember how disappointed everybody was with the results of the Summer Olympics in Athens," said tycoon Vladimir Yevtushenkov, president of The Sistema Corp., the parent company of Russia`s largest mobile phone operator. Russia was third in the standings in Athens, with 27 golds and 92 medals overall. The United States led with 35 golds and an overall tally of 103, while China was second with 32 golds and 63 medals. The Soviet Union often dominated the Olympic standings and Russia has struggled since the Soviet collapse to live up to expectations and match the United States on the medals tables - with the Cold War rivalry still as strong as ever in sports. "I am counting on it that sports fans in Russia can be certain the money is going to a good cause - to the development of Russian sports and conquering new heights in world and Olympic championships," Putin said. Russian Olympic Committee chief Leonid Tyagachev said the fund was "really a stimulus ahead of the (February 2006) Winter Olympics in Turin and the (2008) Summer Olympics in Beijing." He said at the moment 705 athletes and coaches were qualified to benefit. AP