Alexey Ulyukaev


Alexey Valentinovich Ulyukaev is a Russian politician, scientist, and economist. Between 24 June 2013 and 15 November 2016, he held the office of Minister of Economic Development of the Russian Federation in Dmitry Medvedev's Cabinet. From 2004 to 2013, he held the post of Deputy Chairman of the Central Bank of Russia. He holds a Doctorate of Economic Sciences. He is currently serving an eight-year prison term in a penal colony on the outskirts of Tver.

Arrest and investigation

The Investigative Committee of Russia announced that Ulyukaev had been detained in November 2016 due to allegations that he received a $2 million bribe for an assessment that led to the Kremlin-controlled oil company Rosneft's acquisition of a 50% stake in Bashneft. This followed an apparent sting operation after months of surveillance. On the same day, Vladimir Putin dismissed him from the ministerial position. His trial commenced in August 2017.
The organizer of this apparent sting was Rosneft chief and Putin confidante Igor Sechin. Sechin, a key witness in the trial, was summoned four times by the defence, but refused to be cross-examined. Ulyukayev compared his prosecution to the show trials of the 1930s.
On 15 December 2017, Ulyukaev was found guilty and sentenced to eight years in a strict-regime labour colony and fined 130 million roubles.