Exhibit 8

LIST OF SUBSIDIARIES

Below is a list of our subsidiaries and their
jurisdiction of incorporation as of December 31, 2008.



|                                                       |  |                         
|------------------------------------------------------ |  | ------------------------
|Subsidiary                                             |  | Country of Incorporation
|Closed Joint Stock Company Sakhalin Telecom Mobile   |  | Russia                  
|Closed Joint Stock Company Kabardino-Balkarskiy GSM  |  | 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 Sovintel                   |  | Russia                  
|Limited Liability Company Vimpelcom Finance          |  | Russia                  
|Vimpelcom B.V.                                         |  | Netherlands             
|VC Limited                                             |  | BVI                     
|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                  



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|                                                                 |  |           
|---------------------------------------------------------------- |  | ----------
|ROL Holdings Limited                                             |  | Cyprus    
|ST Holding S.R.O.                                                |  | Czech Rep.
|Fortland Limited                                                 |  | BVI       
|Closed Joint Stock Company Teleross-Ekaterinburg               |  | Russia    
|Closed Joint Stock Company Teleross-Voronezh                   |  | Russia    
|Closed Joint Stock Company Teleross-Tumen                      |  | Russia    
|Closed Joint Stock Company Teleross-Novosibirsk                |  | Russia    
|Closed Joint Stock Company Teleross-Vladivostok                |  | Russia    
|Closed Joint Stock Company Teleross-Kubanelectrosvyaz          |  | Russia    
|Closed Joint Stock Company Teleross-Volgograd                  |  | Russia    
|Closed Joint Stock 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 DirectNet                           |  | Russia    
|Limited Liability Company Bryanskintel                         |  | Russia    
|Limited Liability Company Bryansktel                           |  | Russia    
|Closed Joint Stock Company Comincom-Chernozemie                |  | Russia    
|Limited Liability Company Firma Spetkr                         |  | 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 Golden ISP                           |  | Russia    
|Limited Liability Company Kolangon Optim                       |  | Russia    
|Limited Liability Company NoTel                                |  | Russia    
|Limited Liability Company Skat-7                               |  | 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    
|Closed Joint Stock Company Kortek                              |  | Russia    
|Prunescom Limited                                                |  | BVI       
|Closed Joint Stock Company Rascom                              |  | Russia