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Russian Economy Minister Detained For Allegedly Taking $2 MIllion Bribe

November 14, 2016

Russian Economy Minister Aleksei Ulyukayev has been detained for allegedly taking a $2-million bribe to facilitate state oil giant Rosneft's takeover of Bashneft last month, the Russian Investigative Committee said on November 15.

He is the highest-ranking Russian government official to be arrested since 1991.

Ulyukayev has overseen massive government privatization, capped by regional oil firm Bashneft's $5 billion sale to state-controlled Rosneft in a controversial deal last month.

The investigative committee said Ulyukayev was detained for providing the "positive" assessment by the government that enabled Rosneft to make the purchase, in exchange for the bribe.

The committee, which reports directly to President Vladimir Putin, said the investigation would put forward charges soon.

"Ulyukayev was detained at night, immediately after interrogation," an Investigative Committee official told Reuters.

Kremlin spokesman Dmitry Peskov told TASS that "this is a serious accusation," and the charges will be decided by the courts.

The criminal statute cited by the investigative committee in arresting Ulyukayev authorizes fines up to 100 times the amount of the bribe along with a ban on holding certain positions, or up to 15 years in prison.

Based on reporting by Reuters, AFP, and TASS

Source: http://www.rferl.org/a/russian-economy- minister-ulyukayev-arrested-taking-2-million-dollar-bribe- facilitate-rosneft-takeover-bashneft/28117331.html

Copyright (c) 2016. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036.