Exhibit 8

LIST OF SUBSIDIARIES

Below is a list of our subsidiaries and their
jurisdiction of incorporation as of December 31, 2009.



|                                                       |  |                         
|------------------------------------------------------ |  | ------------------------
|Subsidiary                                             |  | Country of Incorporation
|Closed Joint Stock Company Sakhalin Telecom Mobile   |  | Russia                  
|Limited Liability Company Dominanta                  |  | Russia                  
|Limited Liability Partnership KaR-Tel                |  | Kazakhstan              
|Limited Liability Company Tacom                      |  | Tajikistan              
|Closed Joint Stock Company Ukrainian Radio Systems   |  | Ukraine                 
|Limited Liability Company Unitel                     |  | Uzbekistan              
|Limited Liability Company Mobitel                    |  | Georgia                 
|Closed Joint Stock Company Armenia Telephone Company |  | Armenia                 
|VimpelCom Finance B.V.                                 |  | Netherlands             
|VC ESOP N.V.                                           |  | Belgium                 
|Silkway Holding B.V.                                   |  | Netherlands             
|Limnotex Developments Limited                          |  | Cyprus                  
|Crisden Holdings Limited                               |  | Cyprus                  
|Cellcroft Holdings Limited                             |  | Cyprus                  
|Cradel Investments Limited                             |  | Cyprus                  
|Wintop Management Limited                              |  | Cyprus                  
|Crayola Properties Limited                             |  | Cyprus                  
|VimpelCom (BVI) Ltd.                                   |  | British Virgin Islands  
|Watertrail Industries Ltd.                             |  | British Virgin Islands  
|Freevale Enterprises, Inc.                             |  | British Virgin Islands  
|Sotelco LTD                                            |  | Cambodia                
|Limited Liability Company Comtel                     |  | Russia                  
|Limited Liability Company Beeline Ventures           |  | Russia                  
|Limited Liability Company EDN Sovintel               |  | Russia                  
|Limited Liability Company Vimpelcom Finance          |  | Russia                  
|Vimpelcom B.V.                                         |  | Netherlands             
|Ararima Enterprises Limited                            |  | Cyprus                  
|Atlas Trade Limited                                    |  | BVI                     
|Limited Liability Company Vimpelcom Invest           |  | Russia                  
|Limited Liability Partnership Teta Telekom           |  | Kazakhstan              
|Limited Liability Partnership KZ-Trans               |  | Kazakhstan              
|Irington Developments Limited                          |  | Seychelles              
|Wenthorp Industries Limited                            |  | Seychelles              
|Closed Joint Stock Company Armencell                 |  | Armenia                 
|Open joint Stock Company Azimut                      |  | Armenia                 
|Limited Liability Company Buzton                     |  | Uzbekistan              
|Limited Liability Partnership SA-Telcom              |  | Kazakhstan              
|Limited Liability Company Golden Telecom             |  | Ukraine                 
|Limited Liability Company S-Line                     |  | Ukraine                 
|Limited Liability Company TTK                        |  | Ukraine                 
|Limited Liability Company Golden Fiber               |  | Ukraine                 
|Cell Ukraine Limited                                   |  | USA                     
|Golden Telecom, Inc                                    |  | USA                     
|Golden Telecom Limited                                 |  | BVI                     
|GTS Mobile Services Inc.                               |  | USA                     
|Golden TeleServices Inc.                               |  | USA                     
|Golden Telecom Group, Inc.                             |  | USA                     
|SFMT-CIS, Inc.                                         |  | USA                     
|SFMT-Rusnet, Inc.                                      |  | USA                     
|Golden Holdings, Inc                                   |  | USA                     
|GTS Ukrainian TeleSystems, LLC                         |  | USA                     
|GTS Finance, Inc.                                      |  | USA                     
|Antel Rascom Limited                                   |  | BVI                     
|Agama Limited                                          |  | Cyprus                  
|ROL Holdings Limited                                   |  | Cyprus                  
|ST Holding S.R.O.                                      |  | Czech Rep.              
|Fortland Limited                                       |  | BVI                     
|Limited Liability Company Teleross-Ekaterinburg      |  | Russia                  



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|                                                                                                   |  |                         
|-------------------------------------------------------------------------------------------------- |  | ------------------------
|Subsidiary                                                                                         |  | Country of Incorporation
|Limited Liability Company Telecommunication radio-relay fiber-optic satellite systems - Voronezh |  | Russia                  
|Limited Liability Company Teleross-Tumen                                                         |  | Russia                  
|Limited Liability Company Teleross-Novosibirsk                                                   |  | Russia                  
|Limited Liability Company Teleross-Vladivostok                                                   |  | Russia                  
|Limited Liability Company Teleross-Kubanelectrosvyaz                                             |  | Russia                  
|Limited Liability Company Teleross-Volgograd                                                     |  | Russia                  
|Limited Liability Company Teleross-Samara                                                        |  | Russia                  
|Closed Joint Stock Company Samara Telecom                                                        |  | Russia                  
|Closed Joint Stock Company Sochitelecom                                                          |  | Russia                  
|Limited Liability Company CKN                                                                    |  | Russia                  
|Limited Liability Company Kubtelecom                                                             |  | Russia                  
|Closed Joint Stock Company Kubintersvyaz                                                         |  | Russia                  
|Closed Joint Stock Company Direct Net Telecommunications                                         |  | Russia                  
|Limited Liability Company Bryansktel                                                             |  | Russia                  
|Closed Joint Stock Company Comincom-Chernozemie                                                  |  | Russia                  
|Limited Liability Company Satil Tsentr                                                           |  | Russia                  
|Limited Liability Company Dicom                                                                  |  | Russia                  
|Limited Liability Company Alkar                                                                  |  | Russia                  
|Closed Joint Stock Company Cityline                                                              |  | Russia                  
|Closed Joint Stock Company The First Telecommunication Company                                   |  | Russia                  
|Limited Liability Company Agentstvo Delovoy Svyazi                                               |  | Russia                  
|Closed Joint Stock Company WestBalt Telecom                                                      |  | Russia                  
|Limited Liability Company JV Sakhalin Telecom Limited                                            |  | Russia                  
|Closed Joint Stock Company Tatintelcom                                                           |  | Russia                  
|Limited Liability Company Inform-Technology                                                      |  | Russia                  
|Limited Liability Company Kolangon Optim                                                         |  | Russia                  
|Limited Liability Company Altaigrif                                                              |  | Russia                  
|Limited Liability Company ATel                                                                   |  | Russia                  
|Closed Joint Stock Company InvestElectrosvyaz                                                   |  | Russia                  
|Closed Joint Stock Company CableStroy                                                            |  | Russia                  
|Limited Liability Company Antares E                                                              |  | Russia                  
|Prunescom Limited                                                                                  |  | BVI                     
|Closed Joint Stock Company Rascom                                                                |  | Russia                  
|Vimpelcom Option Project Limited                                                                   |  | Cyprus                  
|Vimpelcom Project Services Limited                                                                 |  | Cyprus                  
|Closed Joint Stock Company Macrocom                                                              |  | Russia                  
|Closed Joint Stock Company SOTA-100                                                              |  | Russia                  
|CSI Loyalty Partners Limited                                                                       |  | Cyprus                  
|Limited Liability Company Technobut                                                              |  | Ukraine                 
|GTS-Vox.ltd                                                                                        |  | UK                      
|Closed Joint Stock Company Infokom-Abovyan                                                       |  | Armenia                 
|AC Infokom-Ashtarak                                                                              |  | Armenia                 
|AC Infokom-Bags                                                                                  |  | Armenia                 
|Closed Joint Stock Company Infokom-Vanadzor                                                      |  | Armenia                 
|Closed Joint Stock Company Infokom-Energo                                                        |  | Armenia                 
|Limited Liability Company ElcomLine                                                              |  | Russia                  
|Limited Liability Company Dial-Impex                                                             |  | Russia                  
|Limited Liability Company MediaInform                                                            |  | Russia                  
|Limited Liability Company PrimeTime                                                              |  | Russia                  
|Limited Liability Company Intervest                                                              |  | Russia                  
|Limited Liability Company Aston                                                                  |  | Russia                  
|Limited Liability Company Vitus                                                                  |  | Russia                  
|Limited Liability Company Platinum Internet                                                      |  | Ukraine                 
|Limited Liability Company Invest Holding                                                         |  | Ukraine                 
|GTI Russian Ltd.                                                                                   |  | BVI                     
|GTI Kaztel Ltd.                                                                                    |  | BVI                     
|BARDYM ENTERPRISES LIMITED                                                                         |  | Cyprus                  
|CLAFDOR INVESTMENTS LIMITED                                                                        |  | Cyprus