: Russia's Economy Minister detained over bribery allegations

10:15 Nov. 15, 2016

Russia's Economy Minister detained over bribery allegations

Russian Economy Minister Alexei Ulyukayev walks before a State Council meeting in the Kremlin in Moscow, Russia (AP photo)

Alexei Ulyukayev is accused of reсeiving USD 2 million payment to secure illicit deal

Russia's Economy Minister Alexei Ulyukayev has been detained after law enforcement authorities accused him of accepting a bribe for a recent privatization deal.

Russia's Investigative Committee alleged that Ulyukayev received a payment of USD 2 million in exchange for giving a green light for state oil giant Rosneft to buy just over 50% of a smaller oil company, Bashneft.

The Investigative Committee said the minister was caught red-handed and would soon be charged.

The minister has been in his job since June 2013, e is the highest-ranking Russian official to be detained since 1991.

Read also Over 20 million Russians will find themselves below poverty level in 2019

Ulyukayev could face a prison sentence of between eight and 15 years, if found guilty.

Rosneft, which is controlled by the Russian government, bought 50% of Bashneft for 330bn roubles (USD 5bn) in October.

Source: BBC

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