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Russian ex-minister Ulyukayev found guilty of bribe-taking

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Former Russian economy minister Alexei Ulyukayev was found guilty on Friday of soliciting a $2 million bribe from Rosneft (ROSN.MM) chief executive Igor Sechin in a court case that has shone a rare light on infighting among the Russian elite.

A Moscow court found Ulyukayev guilty of demanding and accepting the bribe on Nov. 14 last year.

State prosecutors had stated that Ulyukayev had asked for the bribe in exchange for approving the sale of the state-controlled oil company Bashneft (BANE.MM) to Rosneft.

Further details of the ruling were expected later on Friday.

Ulyukayev denied the charges. He said he had thought the bag holding the bribe was a gift of expensive alcohol.

In a final hearing before the verdict, Ulyukayev said he was the victim of “a monstrous and cruel provocation”.

Prosecutors have sought a sentence of 10 years in jail.

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