Russian magazine raises money to pay whopping fine

An independent Russian magazine has raised over $370,000 to pay a fine to the government.

The New Times magazine was fined 22 million rubles last month for failing to notify authorities on time of receiving foreign funding. The fine, which had threatened to force the magazine to shut down, followed recent legislation aimed at what the Kremlin sees as foreign influence in Russian media.

The New Times' editor-in-chief, Yevgeniya Albats, said on Twitter on Tuesday that the magazine has raised more than the necessary amount in just four days after it announced the fund-raising campaign.

Government critics and media experts have viewed the fine as retribution by the government for the New Times' critical reporting.