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| Russian ex-Economy Minister Ulyukayev found guilty in $2mn bribery case | Russian ex-Economy Minister Ulyukayev found guilty in $2mn bribery case |
| (35 minutes later) | |
| Former Russian Economy Minister Aleksey Ulyukayev has been found guilty on charges of taking a $2 million bribe, a verdict that now distinguishes him as the highest-ranking Russian official ever to be convicted on corruption charges. | |
| Ulyukayev was detained in November 2016 on charges of allegedly receiving a $2 million bribe, in return for his ministry’s support of a positive assessment that would allow state oil company Rosneft to complete a deal to purchase the government's stake in another Russian oil major, Bashneft. | |
| The charges were based on the testimony of Rosneft CEO Igor Sechin, as well as a on the evidence of a sting operation, in which Sechin personally handed a bag containing $2 million in cash to Ulyukayev, the then-economy minister. | |
| According to the court ruling, Ulyukayev extorted the bribe from Sechin, and in so-doing abused his position as member of the Russian cabinet. The felony carries a potential punishment of a heavy fine, a ban from offices of power for up to 15 years and a prison term between eight and 15 years. | |
| Ulyukayev pleaded not guilty at the start of the trial and continued to maintain his innocence up until the verdict announcement on Friday. In his last address, he said a ‘not guilty’ verdict would be the only just outcome for his case. | |
| His defense team argued that the money did change hands between Sechin and Ulyukayev, but that it was an entrapment on the part of the Rosneft head. The then-economy minister was not aware of the cash being inside the bag, his lawyers told the court. | |
| Earlier in December, Russian prosecutors asked for a sentence of ten years in a penal colony for Ulyukayev. The custodial sentence would be in addition to a fine of about $8.5 million if he was found guilty of accepting the $2 million bribe, they said at the time. | |
| Ulyukayev is the first minister in Russia’s modern history to be found guilty of corruption by a court. |