Russian economy minister arrested for bribery

After more than a year of ambush, Russian investigators caught the Minister of Economy Alexei Ulyukayev red-handed when he accepted a bribe of 2 million USD.

Minister Alexei Ulyukayev - Photo: AFP

Mr Ulyukayev, who took office in 2013, is the highest-ranking government official to be arrested since 1991.

"Mr. Ulyukayev was caught red-handed while accepting a bribe," RIA Novosti quoted deputy head of the investigative committee Svetlana Petrenko as saying about the arrest that took place a day earlier.

Sources close to the matter said the minister had been under surveillance by Russian security service agents for more than a year. His phone was tapped and his electronic communications devices were also monitored. Investigators then launched an operation to catch Mr. Ulyukayev red-handed when he accepted a bribe on November 14.

The Investigative Committee said it had opened a criminal investigation into whether Mr Ulyukayev forced Rosneft to pay him for helping the company buy back a 50% stake in Bashneft last month despite widespread criticism from domestic business circles against the government's involvement in the privatisation.

Ulyukayev was questioned and appeared in court on November 15 to hear formal charges, according to local news agencies. If convicted, he could face between eight and 15 years in prison and a fine of up to 100 times the bribe amount.

Kremlin spokesman Dmitry Peskov said the charges against Mr Ulyukayev were "very serious" and would be decided by the courts, while Prime Minister Dmitry Medvedev also called for a full investigation into the incident.

Although Russian media reported the investigation as an effort to fight corruption within the government, some opinions said that behind it was a power struggle within the Kremlin.

According to Tuoi Tre