"The court's decision to set bail at such an unbelievable sum instead of granting an unconditional release appears to be a cynical travesty of the law and of good sense," Aleksanyan said in a statement released by his lawyers.
Aleksanyan, 36, accused of embezzlement and money laundering, was diagnosed with AIDS a few months after his detention in April 2006. He became almost blind and developed cancer of the liver, and also contracted tuberculosis.
He was moved to a clinic in February after a court ruling. His lawyers demanded that he should be released from custody due to his poor health, while prosecutors earlier insisted Aleksanyan undergo medical treatment in jail.
Jailed ex-Yukos CEO Mikhail Khodorkovsky, the founder of what was once Russia's largest oil producer, declared a hunger strike on January 30 demanding medical treatment for Aleksanyan.
Aleksanyan said his state of health "clearly makes the court's demands to collect such a huge sum more difficult to meet."
The last time the court set bail at such a high sum was for Vasily Boiko, who was released after being arrested on charges of illegally purchasing nine agricultural enterprises in the Moscow Region to implement an ambitious luxury housing project.
