33. Related party transactions

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(a) Transactions and balances with associates

(i) Transactions with associates

2012
RUB Million
2011
RUB Million
Sales of goods and services 4,971 2,469
Sales of equity investments 6,123
Sales of treasury shares 791
Dividend income from associates 1,840
Interest income from associates 69 60
Purchases of goods and services (218) (2,351)
Interest expense to associates (7)

(ii) Balances with associates

31 December 2012
RUB Million
31 December 2011
RUB Million
Short-term loans issued, at amortised cost 664 944
Advances issued for construction of property, plant and equipment, at cost 345
Receivables from associates 803 168
Payables to associates (33) (81)

(b) Transactions and balances with ot her related parties

(i) Transactions with other related parties

2012
RUB Million
2011
RUB Million
Assignment of receivables to a related party 2,347
Sales of goods and services 805 553
Purchases of goods and services (707) (73)
Interest income from related parties 19 52

(ii) Balances with other related parties

31 December 2012
RUB million
31 December 2011
RUB million
Short-term loans issued, at amortised cost 57 441
Long-term loans issued, at amortised cost 38 11
Receivables from related parties 253 51
Payables to related parties (81) (12)
Dividends payable to shareholders of the Parent (2,911) (2,913)

(iii) Key management remuneration

The remuneration of the Board of Directors and 16 members of key management personnel amounted to RUB 364 million (2011: RUB 459 million).

(iv) Financial guarantees

The Group issued financial guarantees to banks on behalf of related parties amounting to RUB 609 million (31 December 2011: RUB 1,704 million), see note 30(с).

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