Russian EconMin Detained with USD 2 M Bribe

Russian's Economy Minister Alexey Ulyukayev has been arrested on suspicions of extortion and threats to a representative of state-owned company Rosneft, Russian media report.

Ulyukayev has become the highest-profile official to be detained in Russian since 1991, with no minister having been placed under arrest in the country's post-Soviet history.

Russian investigative officials say he was detained while taking a USD 2 M bribe, according to RBC daily.

A criminal case has been launched into bribery, Svetlana Petrenko, who represents the investigative committee, has said.

RIA Novosti reminds his ministry had given a positive assessment that resulted in the oil giant Rosneft acquiring a 50% stake in Bashneft, another oil company, for the equivalent of nearly USD 5 B. The money was taken in relation to the assessment, investigators allege.

Ulyukayev may be sentenced to 15 years in prison if found guilty.