A pair of Russian multi-millionaires reportedly tried to outspend each other in a London nightclub this week, racking up a combined drinks tab of more than $220,000 in one very boozy evening, according to US website CNBC.

It was reported that the unnamed businessmen were holding court in a private members function at the newly opened Kitsch nightclub and kicked off a spending race by ordering rounds of high-end champagnes Cristal and Dom Perignon at $2330 (per magnum) and $550 (per bottle) respectively.

Dozens of bottles and magnums of champagne anchored the exorbitant drinks bills. Credit:iStock

The eventual drinks tab, delivered to the pair at 2.40am, totted up to £66,778.91 ($112,853) and £64,279.70 ($108,640) respectively, with the owner of the biggest bill reportedly jumping up and down and waving his receipt to celebrate.

The winner's tab included 30 magnums of Cristal, 20 bottles of Dom Perignon, seven bottles of 1998-vintage Krug champagne and two magnums of Belvedere vodka.