November 15, 2016 / 5:57 PM / in a year

Russia's Putin dismisses economy minister: Kremlin

SOCHI, Russia (Reuters) - Russian President Vladimir Putin has dismissed Economy Minister Alexei Ulyukayev after losing trust in him, Kremlin spokesman Dmitry Peskov said on Tuesday.

Russian President Vladimir Putin chairs a meeting with defence ministry officials and representatives of the military industrial complex, with Defence Minister Sergei Shoigu and head of General Staff Valery Gerasimov, at the Bocharov Ruchei state residence in Sochi, Russia, November 15, 2016. Sputnik/Kremlin/Alexei Druzhinin/via REUTERS

Ulyukayev was detained overnight and charged with extorting a $2 million bribe from Rosneft, Russia’s biggest oil company.

Peskov told reporters that Ulyukayev’s arrest did not concern a $5 billion deal for Rosneft to purchase a stake in mid-sized oil producer Bashneft.

Reporting by Denis Pinchuk; Writing by Jack Stubbs; Editing by Mark Heinrich

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