Welcome to Africanews

Please select your experience

Watch Live

News

news

Russian economy minister detained over bribery allegations

Russian economy minister detained over bribery allegations

Russia

Russia’s Economy Minister Alexei Ulyukayev has been detained over the equivalent of an alleged 1.8 million euro bribe ($2m).

Ulyukayev who is a relatively liberal pro-western politician is being held pending charges.

His detention is said to be in connection with a positive assessment given by his ministry which led to oil giant Rosneft acquiring a 50% stake into another company Bashneft.

Ulyukayev is the highest-ranking Russian official to be held since the 1991 coup attempt in the then USSR.

Rosneft, which is controlled by the Russian government, bought 50% of fellow state-run Bashneft for 330bn roubles ($5bn) in October. Its purchase was made at a premium to the market.

Russia’s main anti-corruption body, the Investigative Committee, which reports directly to President Vladimir Putin, said charges would soon follow.

The minister could face a prison sentence of up to 15 years, if found guilty.

View more