NEWSWATCH: “Corruption Case Puts Sechin in the Spotlight” – Carnegie Moscow Center/ Konstantin Gaaze

Igor Sechin file photo

“The high-profile trial of former Russian economy minister Alexei Ulyukayev is not playing out according to the script that most analysts had expected. The prosecution’s case increasingly relies on the testimony of one man, state oil chief Igor Sechin, making this master of Kremlin intrigue potentially politically vulnerable. The powerful reputation of the official said to be Russia’s second most […]

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Medvedev says Ulyukayev’s dismissal after losing president’s trust is not ‘guilty verdict’

Alexei Ulyukayev file photo

MOSCOW. Dec 15 (Interfax) – The resignation of former Economic Development Minister Alexei Ulyukayev after he lost the president’s trust and confidence does not mean Ulyukayev has been found guilty of the crimes he has been accused of, Prime Minister Dmitry Medvedev said. “The president made the decision to dismiss the former minister from his duties due to loss of […]

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Russia’s New Economic Development Minister is the Status Quo Candidate; Don’t expect former Finance Ministry official Maxim Oreshkin to rock the boat

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(Moscow Times – themoscowtimes.com – Matthew Kupfer – December 10, 2016) It took two weeks for President Vladimir Putin to find a replacement for Alexei Ulyukayev, the economic development minister sacked in a corruption scandal. His final choice of Maxim Oreshkin, a largely unknown 34-yearold deputy finance minister, raised a few eyebrows. “Maxim, you are a fairly young man, but […]

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RUSSIALINK TASS: “Russia’s economic line after minister’s dismissal to remain unchanged – view” [Andrei Kostin]

Alexei Ulyukayev file photo

“The dismissal of Alexei Ulyukayev from position of the economic development minister would not affect the country’s economic line, VTB’s CEO Andrei Kostin said ….”

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NEWSWATCH: “Russian bribery probe widens amid reports of Kremlin power struggle” – Washington Post/David Filipov

File Photo of Kremlin Tower, St. Basil's, Red Square at Night

“… Russia’s state-run news agency reported … more officials could be targeted in the corruption probe that has already led to the arrest of the … economic development minister. Other news reports … name[d] names, all of them of officials close to … Medvedev, leader of the so-called liberals, who tend to favor a smaller state role in society and […]

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NEWSWATCH: “The Fate of Russia’s Liberals” – Stratfor

Alexei Ulyukayev file photo

Russia’s economic and political problems are piling up, and they may be putting members of the country’s more liberal circles at risk. In the most high-profile arrest to be made in post-Soviet Russia – and arguably, since the 1950s – Economic Minister Alexei Ulyukayev was detained … on charges of bribery and extortion. … Russian authorities [said] Ulyukayev received $2 […]

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The Loyalty of Fear; Putin sends a message to the elite with the arrest of Russia’s economic development minister

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(Moscow Times – themoscowtimes.com – Eva Hartog, Mikhail Fishman – November 16, 2016) It was an awkward, dramatic national moment for Russia: a bonafide minister of the federal government standing in court as the defendant, facing corruption charges and promising his cooperation to prosecutors, pleading to be released on bail. The hearing ended slightly anticlimactically, with a decision to place […]

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Updates: Russian Economy Minister Ulyukayev Appears in Court on Corruption Charge

Alexei Ulyukayev file photo

The longstanding minister has been formally charged on corruption allegations. (Moscow Times – themoscowtimes.com – November 15, 2016) Russian Economic Development Minister Alexei Ulyukayev has appeared in Moscow’s Baumansky court to face corruption allegations. Ulyukayev was charged with accepting a $2-million bribe on Tuesday, having been arrested by agents from Russia’s Federal Security Service (FSB) late on Monday night. The […]

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TRANSCRIPT: [Medvedev and Ulyukayev at] The 30th session of the Foreign Investment Advisory Council in Russia

File Photo of Dmitry Medvedev Before Gold Flag with Elaborate Design

(Government.ru – October 17, 2016) The participants discussed proposals to improve customs legislation and technical regulation, develop the banking and financial sectors, and increase investment in agriculture, the processing industry and pharmaceuticals production. Dmitry Medvedev’s opening remarks: The Foreign Investment Advisory Council, which was established in 1994, proved to be a good format in great demand and very useful for […]

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No return to previous oil, gas price situation – Ulyukayev

Alexei Ulyukayev file photo

MINSK. June 8 (Interfax) – Oil and gas prices are expected to rise, but there will be no return to previous situation, Economic Development Minister Alexei Ulyukayev told reporters in Minsk. “Of course a recovery of oil and gas prices is under way. Our low was $130 per thousand cubic meters, now it is $170 or more and I think […]

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NEWSWATCH: “Russia expects economic growth in a year; Ministers warned early this year a return to $50 per barrel oil could create headwinds – UPI

Alexei Ulyukayev file photo

It may be another year before the Russian economy recovers from deep recession and returns to growth, the country’s economic development minister said. With a 3.7 percent decline in gross domestic product last year … Ulyukayev said the country was in a deep recession. The Russian Central Bank, however, said earlier this week that inflation was stabilizing and the economy […]

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Economy Minister Says Russia Out of Recession More Than Six Months

Alexei Ulyukayev file photo

(Moscow Times – themoscowtimes.com – May 20, 2016) The Russian economy has been out of recession for more than six months, Economic Development Minister Alexei Ulyukayev said during a briefing at the Russia-ASEAN summit on Friday, the TASS news agency reported. Russia’s GDP may perform better than the official forecast, which predicted a decline of 0.2 percent, Ulyukayev said, attributing […]

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Russian minister and U.S. ambassador discuss privatization, sanctions

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(Interfax – March 28, 2016) The Russian privatization and sanctions against Russia were discussed during the meeting between Russian Economic Development Minister Alexei Ulyukayev and UEc.S. Ambassador to Russia John Tefft in Moscow on March 28, along with other aspects of the Russia-U.S. trade and economic cooperation. “We have discussed a broad spectrum of the Russian-American economic ties, including both […]

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Economic Minister says moderate economic growth possible in Russia in 2016

Alexei Ulyukayev file photo

(Interfax – February 2, 2016) Economic Development Minister Alexei Ulyukayev does not rule out the possibility of the Russian economy shifting to moderate growth in 2016. “A shift is already possible this year, perhaps, to moderate, recovery growth in the economy for the time being. We should be prepared for this,” Ulyukayev said at a ministry meeting on Feb. 2. […]

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TRANSCRIPT: [Putin at] Working meeting with Economic Development Minister Alexei Ulyukayev

Alexei Ulyukayev file photo

(Kremlin.ru – January 26, 2016) Vladimir Putin had a working meeting with Minister of Economic Development Alexei Ulyukayev to discuss current economic situation. President of Russia Vladimir Putin: Mr Ulyukayev, we are summing up last year’s results. Though it may yet be early to speak of final results, the numbers at the disposal of your Ministry are very close to […]

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RBTH: Russian economy moves out of recession

Alexei Ulyukayev file photo

Economic crisis: After a year of unprecedented economic turmoil, the country is in calmer waters but there are still challenges ahead. (Russia Beyond the Headlines – rbth.ru – DARIA LITVINOVA, SPECIAL TO RBTH – December 9, 2015) In the wake of sharply declining oil prices, a ruble that almost halved in value and the imposition of economic sanctions, many believed […]

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Minister says Russian economy to resume growth in second quarter of 2016

Alexei Ulyukayev file photo

(Interfax – November 11, 2015) The Economic Development Ministry expects that Russia’s GDP will fall less fast in the fourth quarter than it did in the third, Economic Development Minister Aleksey Ulyukayev announced at a meeting with entrepreneurs from Baden Wuerttemberg in Moscow on 11 November. RIA Novosti news agency quoted him as saying that the economy was expected to […]

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Russian economy ministry more optimistic than CBR about oil prices

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SOCHI. Sept 17 (Interfax) – Russia’s Economic Development Ministry is somewhat more optimistic about the outlook for the oil market than the Central Bank in its baseline scenario, which assumes an oil price of $50 per barrel in the next three years. “Our hypothesis is that it might be a little higher, but this is absolutely not crucial,” Economic Development […]

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Ulyukayev not expecting ‘major shocks’ from potential rate hike in U.S

Alexei Ulyukayev file photo

SOCHI. Sept 16 (Interfax) – Because financial markets have largely priced in the effect of a potential rate hike by the U.S. Federal Reserve, Economic Development Minister Alexei Ulyukayev does not expect any major shocks if the U.S. Fed does approve a rate hike. “It seems to me that for the most part the markets have included the rate hike […]

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Russia most likely to have 10.5% inflation for year – Ulyukayev

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MOSCOW. July 7 (Interfax) – Russia is must likely to have 10.5% inflation for this year, Economic Development Minister Alexei Ulyukayev said. “Our official forecast is 11.9%. We won’t be changing it before we submit our adjusted forecast to the government. Officially it will remain such until September. But right now we see the most likely dynamic as falling to […]

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Ulyukayev: GDP decline won’t exceed 3% in 2015; industrial output to drop 1%-1.5%

File Photo of Kremlin Tower, St. Basil's, Red Square at Night

MOSCOW. April 8 (Interfax) – The decline in Russia’s GDP in 2015 will not exceed 3%, industrial production will drop 1%-1.5%, and investment in fixed assets will fall 11%, Economic Development Minister Alexei Ulyukayev said. “We assume that this year under the most conservative estimate of the oil market situation – $50 per barrel – we will have a decline […]

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