Ulyukayev had been reluctant to sign off on state-controlled Rosneft’s purchase of smaller oil company Bashneft 14.52-----Vladimir Putin has just schooled Jacob Zuma on how to deal with a finance minister who won't sign off on a dodgy deal.Russia's economy minister, Alexei Ulyukayev, was arrested in an early morning raid in connection with a claimed "$2m bribe" and thrown in jail.Ulyukayev's sin appears to be his failure to sign off on the purchase of an oil company by the state-controlled Rosneft.See, that's how you ram through a $1tn nuclear deal!This from the Reuters story: Russia’s crackdown on its economy minister carries a cost. Alexei Ulyukayev may or may not be guilty of accepting a $2 million bribe - as alleged after he was detained in an early-morning operation on Nov. 15. But it’s less good for the Russian economy if he no longer plays a senior role in government.Ulyukayev and his counterpart in the finance ministry, Anton Siluanov, have of late been calling for restrain...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now