The Ministry of Economic Development of the Russian Federation was led by Alexey Ulyukaev between June 2013 and November 2016. A career defined by central banking roles and high-level government advisory positions, his tenure concluded abruptly following an arrest regarding his involvement in the acquisition of a stake in the oil firm Bashneft.
Academic Foundation
Born in Moscow in 1956, Ulyukaev pursued his education at Lomonosov Moscow State University and the Moscow State University Faculty of Economics. He completed his graduation in 1979 and earned a Doctor of Economics degree in 1982. Following his studies, he served on the faculty of the Moscow Institute of Physics and Technology.
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Ulyukaev held diverse roles within the Russian government and financial sectors. Between 1992 and 1994, he worked in the Office of the Prime Minister before transitioning to the Institute of Economic Problems of the Transitional Period. He served as a member of the Moscow City Duma from 1996 to 1998. In 2000, he became the First Deputy Finance Minister. His financial career expanded significantly when he took the post of First Deputy Chairman of the Central Bank of Russia, a role he maintained from 2004 to 2013.
Arrest and Legal Proceedings
In November 2016, the Investigative Committee of Russia detained Ulyukaev on allegations of soliciting a $2 million bribe related to the Rosneft acquisition of Bashneft. Vladimir Putin dismissed him from his ministerial post on the day of the arrest. His trial began in August 2017, featuring testimony involving Rosneft chief Igor Sechin. In December 2017, a court found him guilty and issued an eight-year sentence in a strict-regime labour colony, alongside a 130 million rouble fine. He served this term on the outskirts of Tver until a court granted his parole in April 2022, resulting in his release in May 2022.
Fast facts
- Born: 1956, Moscow
- Academic degree: Doctor of Economics
- Minister of Economic Development: 2013–2016
- First Deputy Chairman of the Central Bank: 2004–2013
- Languages: French, English, Russian
- Release from prison: May 2022
- Distinctions include: Stolypin Medal, 1st class
Questions readers ask
What ministerial role did Ulyukaev hold?
He served as the Minister of Economic Development of the Russian Federation from June 2013 until November 2016.
Why was Ulyukaev sentenced to prison?
He was found guilty of soliciting a $2 million bribe in connection with the Rosneft acquisition of Bashneft.
Achievements
- Order of Honour
- Stolypin Medal, 1st class
- Medal "For contribution to the creation of the Eurasian Economic Union" 1st Class
- Affiliated with Moscow Institute of Physics and Technology
- Educated at Moscow State University Faculty of Economics and Lomonosov Moscow State University
