10:15 Nov. 15, 2016
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.
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.