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Ukraine police detain Naftogaz CEO

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Ukraine police detain Naftogaz CEO

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In Ukraine, the head of the country’s state energy company Naftogaz has been arrested as part of a police probe into corruption.

Yevhun Bakulin was appointed head of Naftogaz in 2010 under ousted president Viktor Yanukovich.

Announcing the arrest via Facebook, Ukraine’s interior minister Arsen Avakov said police were conducting three separate investigations into suspected corruption in the gas industry, with fears it may have cost the Ukrainian state as much as $4 billion.

Naftogaz is responsible for the import and distribution of Russian natural gas into Ukraine.