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Ulyukayev Detention Shows Both Good and Bad Trends in Russian Business

© Sputnik / Ekaterina Shtukina / Go to the mediabankAleksei Ulyukaev, Minister of Economic Development, attending the Cabinet meeting at the Government House, November 26, 2015
Aleksei Ulyukaev, Minister of Economic Development, attending the Cabinet meeting at the Government House, November 26, 2015 - Sputnik International
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The detention of Russian Economic Development Minister Alexei Ulyukyaev charged on bribery allegations shows both positive and negative trends for the business climate in Russia, a board member of the Association of European Businesses (AEB) said on Tuesday.

MOSCOW (Sputnik) — Ulyukayev is under investigation for allegedly receiving $2 million for a positive appraisal that allowed Russian energy company Rosneft to buy the state's shares of Bashneft oil company, the Russian Investigative Committee said earlier Tuesday.

Minister of Economic Development Alexei Ulyukayev - Sputnik International
Russia
Russian Economy Minister Detained on Suspicion of Bribery

"Of course there are both negative and positive aspects. Negative ones are that such things can exist at the ministerial level, if it is proven. He has a very important position, he has ties not only with colleagues in Russia, but also abroad. This is of course bad for the country's image," Philippe Pegorier said.

As for the positive side, Pegorier pointed out that detention of Ulyukayev meant that fight against corruption was going on even regarding high-ranking officials.

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