Russian minister held over Rosneft bribe

MOSCOW, November 15, 2016 – Russia’s minister of economic development, Alexei Ulyukayev, was apprehended on Tuesday morning for allegedly having extorted a bribe from Rosneft, the country’s Investigative Committee announced later in the day.

The committee’s investigation, which follows work done by the Federal Security Service, resulted in an allegation against Ulyukayev of having threatened Rosneft representatives into paying him USD 2 million in relation to the company’s acquisition of a controlling stake in Bashneft. In October, Rosneft bought the government’s 50% stake at a value of some USD 5.03 billion.

“Investigators are going to press charges soon and request a court to place Ulyukayev in custody pending trial,” the committee said in a statement. Local media quoted Investigative Committee spokesperson Svetlana Petrenko as saying that the minister had been caught “red-handed as he received the bribe.”

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