Moscow: The Russian Open faces an uncertain future after being scrapped for the second year in a row.
"Unfortunately we had to cancel it again," tournament director Hans Koeleman told Reuters on Monday, blaming the tough economic climate.
"We tried to raise two million euros ($2.39 million) in prize money but just couldn`t find a major sponsor for it."
The event, held at a picturesque course at the Moscow Country Club north of the capital, joined the European Tour schedule in 2003.
"We had been talking to several prospective sponsors, big companies, banks, etc but the current economic situation here is still tough," said Dutchman Koeleman.
Russian real estate company Inteco, which guaranteed the prize money in 2008, was forced to pull out.
"We ran out of time this year but we`ll keep trying. Maybe we`ll have better luck next year," said Koeleman.