• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 8 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 9 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 2 hours NordStream2
  • 11 hours Biden Sets Target Of 50% EV Share In U.S. Car Sales In 2030
  • 2 days Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 11 hours US intel warns China could dominate advanced technologies By NOMAAN MERCHANT October 22, 2021
  • 2 days "The Hidden Story About California's Container Ship Backlog" via Corbett Report
  • 2 days Storage of gas cylinders

Russian Economy Minister Charged With Bribery

Russia’s Economy Minister Alexei Ulyukayev has been detained on charges of bribery after an ongoing investigation caught him in the act of receiving US$2 million as reward for his ministry’s green light for Rosneft’s acquisition of Bashneft.

According to an unnamed source from law enforcement, Ulyukayev has been the object of a Federal Security Service investigation for more than a year, although it is not clear yet whether the investigation was prompted by suspicions of graft.

The state Investigative Committee said in a statement that the minister was detained after he was caught receiving US$2 million for his ministry’s positive assessment of the Rosneft-Bashneft tie-up. Ulyukayev is currently awaiting charges.

Soon after the news about Ulyukayev’s detention came out, the Investigative Committee said the acquisition of Bashneft will not be subject to any actions on their part. The deal was legal, the committee’s spokeswoman Svetlana Petrenko told media.

The tie-up between Rosneft and Bashneft sparked controversy earlier this year. Bashneft was put up for sale as part of a privatization plan devised by Ulyukayev himself. Rosneft and Lukoil emerged as the main suitors for their smaller sector player in the summer. In August, there were reports that Bashneft’s privatization would be delayed till 2017 because the Kremlin was not in favor of Rosneft buying it. At the same time, there were conflicts between Rosneft and Lukoil about their respective bids.

However, two months later, Rosneft received government approval for the acquisition of 50.075 percent in the smaller company. According to the Investigative Committee, Ulyukayev was the party that asked for the helfty “reward” for his role in the approval.

Meanwhile, Rosneft is preparing its offer for the remainder of Bashneft’s capital, as per regulations. The acquisition of the majority stake in the company cost it US$5 billion.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News