Maxim Stanislavovich Oreshkin— Russian statesman, Minister of Economic Development of the Russian Federation (since November 30, 2016). Oreshkin replaced Alexey Ulyukaev, who lost his post due to “loss of trust.” Maxim Oreshkin became the youngest minister of the Russian Federation.

The early years and education of Maxim Oreshkin

Mother - Nadezhda Sergeevna Nikitina— Professor of the Department of Soil Mechanics and Geotechnics, Moscow State University of Civil Engineering (MGSU). Honorary teacher of higher professional education, candidate of technical sciences. The minister’s biography on the Find Everything website states that Oreshkin’s mother is the author and co-author of many scientific works.

Father - Stanislav Valentinovich Oreshkin(1943). It is unknown what Maxim Oreshkin’s father does; his biographies in open sources do not mention this.

Brother - Vladislav Stanislavovich Oreshkin- Graduate (1993) of the Faculty of Economics of Moscow State University with a degree in cybernetics economist. Successfully implemented himself in the banking sector of the economy.

After graduating from high school, Maxim Oreshkin took exams at two universities at once: the Higher School of Economics and the Financial Academy under the Government of the Russian Federation. Maxim Stanislavovich chose the “Economics” direction at HSE and already acquired a bachelor’s degree at the age of 20. In 2004, the future minister Maxim Oreshkin completed his master's degree at the same university.

Maxim Oreshkin speaks English.

Work biography of Maxim Oreshkin

It should be noted that while still a student, Oreshkin began working at the Central Bank. Oreshkin’s official biography states that in the period from April 2002 to June 2006. Maxim Stanislavovich held various positions at the Central Bank of the Russian Federation. At first, Maxim was a leading economist, then a chief economist, and after leaving the Central Bank (2006), Maxim Stanislavovich was already in the position of head of a sector of the balance of payments department.

Since June 2006, Maxim Oreshkin worked as a senior manager at Rosbank OJSC, where he made a successful career, rising to the rank of managing director.

From 2010 to 2012, Oreshkin managed the analytical unit of a branch of a French bank - CJSC Credit Agricole Corporate and Investment Bank. Further, in the biography of Maxim Oreshkin, the position of chief economist for Russia at VTB Capital Bank (2012−2013) appears.

Deputy Minister of Finance Maxim Oreshkin at a press briefing, 2013 (Photo: Ruslan Shamukov/TASS)

From September 2013 to March 2015, Maxim Oreshkin worked as director of the long-term strategic planning department of the Ministry of Finance of the Russian Federation. During this period, Maxim Oreshkin was included in the reserve of management personnel under the patronage of the President of the Russian Federation.

From May 3, 2015 to November 30, 2016, Maxim Oreshkin worked as Deputy Minister of Finance of the Russian Federation.

At this time, the Ministry of Finance of the Russian Federation was developing a version of the budget rule, according to which part of the budget revenues from the sale of oil and gas should be transferred to the reserve fund or to the national heritage fund in the event that the cost of a barrel of oil exceeds $50. As Maxim Oreshkin explained, “this is not only a way to ensure a stable fiscal and tax structure in the medium and long term, but also the only effective way to isolate the volatility of the real exchange rate from fluctuations in oil prices.”

In November 2016, sensational news was the detention of Minister Alexei Ulyukaev. On November 15, 2016, the Minister of Economic Development Alexei Ulyukaev was charged, according to investigators, he illegally demanded two million dollars from a representative of the Rosneft company for the legal issuance of a positive conclusion and assessment in relation to the transaction for the organization’s acquisition of a state block of shares in Bashneft. On November 14, while accepting a bribe, Ulyukaev was caught red-handed after the FSB had been spying on him for more than a year.

On November 30, 2016, in connection with the dismissal of Alexey Ulyukaev, Maxim Stanislavovich Oreshkin took the chair of the Minister of Economic Development of the Russian Federation.

Maxim Oreshkin, appointed Minister of Economic Development of the Russian Federation, and Russian President Vladimir Putin (from left to right) during a meeting in the Kremlin, 2016 (Photo: Mikhail Klimentyev/press service of the President of the Russian Federation/TASS)

Oreshkin’s former manager, Anton Siluanov, explained this appointment by saying that Maxim Stanislavovich is a “class macroeconomist” and a “super-qualified specialist.” Bank of Russia Chairman Elvira Nabiullina called Maxim Oreshkin “one of the strongest macroeconomists in the country,” who “most importantly, is not afraid of difficult tasks.”

Russian Finance Minister Anton Siluanov (left) and his deputy Maxim Oreshkin, 2014 (Photo: Komsomolskaya Pravda/Global Look Press)

In February 2019, Maxim Oreshkin said that there would be no collapse of the ruble, and that rates on ruble deposits were higher than inflation, making savings in the national currency profitable.

“With an oil price above $40 per barrel, the ruble will feel stable,” the news quoted the minister as saying.

In March 2019, speaking to State Duma deputies as part of the “Parliamentary Hour”, Maxim Oreshkin said that his department had adjusted the forecast for the ruble exchange rate towards an increase in the price of the dollar.

According to him, the new forecast for the dollar exchange rate is 66.4 rubles versus 63.9, as previously planned. The minister explained this by the fact that sanctions pressure on Russia has increased, preventing the ruble from strengthening.

New favorite and presidential ambitions

On August 25, the American edition of Bloomberg published material in which the Minister of Economic Development of the Russian Federation, Maxim Oreshkin, is called the new favorite of Russian President Vladimir Putin. As arguments, it is mentioned that it was Oreshkin who described the details of the conversation between Vladimir Putin and Donald Trump on the sidelines of the G20 Summit in Hamburg and the new head of the Ministry of Economic Development is present with the president at many major international forums.

The publication cites Maxim Oreshkin’s advantages as representing Russia in the International Bank for Reconstruction and Development. According to Bloomberg, already in his first year in office, the young minister acquired serious “political weight.”

Russia again has a minister of economic development. He became 34-year-old Maxim Oreshkin, a former deputy minister of finance who previously worked at VTB and the Central Bank. He considers his main task to be removing barriers to economic growth. The government's youngest minister will take charge in 2017.

What's happened?

Russian President Vladimir Putin has asked Deputy Finance Minister Maxim Oreshkin to take over the post of head of the Ministry of Economic Development, vacated after the arrest of Alexei Ulyukaev.

Oreshkin did not refuse the head of state’s offer. The appointment decree is already .

Deputy Minister of Economic Development Evgeny Elin that the new head of the department will take part in a government meeting on Thursday, December 1.

Who is Maxim Oreshkin?

The youngest minister of the Russian government. Oreshkin is 34 years old, a month younger than the head of the Ministry of Telecom and Mass Communications, Nikolai Nikiforov.

Since March 2015, he worked as Deputy Minister of Finance, and since September 2013 - Director of the Department of Long-Term Strategic Planning of the Ministry of Finance.

Before working for the state, for seven years he held various positions in various financial structures - Rosbank, VTB Capital, Credit Agricole Corporate and Investment Bank.

From 2002 to 2006 he worked at the Bank of Russia, which at that time was headed by Sergei Ignatiev.

Master of Economics, graduate of the Higher School of Economics (2004).

What to expect from the new minister?

At the meeting with Vladimir Putin, Maxim Oreshkin’s main task was for the Ministry of Economic Development: in 2017, the department will develop key measures designed to remove barriers to the growth of the Russian economy.

“The worst is over, but the growth rate is, of course, insufficient. Therefore, the main task for the coming year is to prepare key measures that will remove structural barriers to the growth of the Russian economy,” Oreshkin said in a conversation with the head of state. “There are a lot of restrictions, we’ll just start working now.”

“Maxim Stanislavovich, you are quite a young man, but you can no longer be called a young specialist. You are a competent, mature, experienced person. I wish you good luck,” the president admonished him.

At the end of October, the Ministry of Economic Development, still headed by Ulyukaev, also set the main goal of its work: improving the quality of life of Russians.

Photo: Mikhail Klimentyev / RIA Novosti

What do you remember about Oreshkin?

Two months before his arrest, Alexey Ulyukaev entered into an affair with Maxim Oreshkin.

“No, I don’t agree. This is not the Ministry of Finance, this is one of the employees of the Ministry of Finance, who has some authority in such statements,” Ulyukaev commented on Oreshkin’s forecast that in the coming years the price of oil could drop to $30 per barrel.

Oreshkin also proposed changing the formula for calculating the mineral extraction tax (MET) in order to withdraw “excess” profits from the devaluation of the ruble from oil workers. The oil lobby managed to repel the onslaught of the Ministry of Finance, thanks in no small part to the Ministry of Economic Development. “I believe that the tax burden on the industry is quite large, however, it changes too often, which creates uncertainty for investors,” Ulyukaev said, calling the Ministry of Finance’s ideas “not the best solution” (quote from).

The new Minister of Economic Development also actively advocated the privatization of Rosneft. In August 2016, he warned that if it was not possible to sell off state assets, the Reserve Fund would quickly dry up.

Unlike his predecessor, Oreshkin prefers to look not for the bottom of the economy, but for it.

Big package of resignations

The appointment of Maxim Oreshkin as Minister of Economic Development will be followed by new personnel decisions, in a conversation with Lenta.ru, vice-president of the Russian Public Relations Association, political scientist Evgeny Minchenko.

“The likelihood that there will be a large package of resignations and appointments is quite high,” the expert said and clarified that the reshuffle will most likely occur after the president’s message to the Federal Assembly (scheduled for December 1).

Minchenko also said that Oreshkin, chosen to replace Ulyukaev, “is a figure like [Anton] Vaino,” who recently headed the presidential administration, or Dmitry Ovsyannikov, who replaced the post of deputy minister of industry with the post of acting governor of Sevastopol.

The head of the Association of Russian Banks, Garegin Tosunyan, is glad that a young man has become the new minister. “I accept with joy that a young man has headed the ministry, because although experience is a very significant factor for management, for wisdom and foresight, youth can quickly make up for shortcomings. Secondly, when such responsibility falls on young shoulders, then every effort is made to justify the trust,” he told the National News Service (NSN).

Associate Professor of the Department of Financial Markets and Financial Engineering at RANEPA Sergei Khestanov, in turn, called Oreshkin’s appointment quite logical.

“But I would say that the role of the Ministry of Economic Development is generally relatively small in making important decisions compared to other departments. The ministry plays rather the role of an advisory body,” he concluded.

Photo: ntv.ru

On December 15, the Zamoskvoretsky Court of Moscow found the former Minister of Economic Development of the Russian Federation Alexei Ulyukaev guilty of taking a bribe and sentenced him to eight years in a maximum security colony. The court also imposed a fine on Ulyukaev in the amount of more than 130 million rubles and a ban on holding public office for 8 years after serving his sentence.

The court found that Ulyukaev received a bribe from the head of the Rosneft Group of Companies, Igor Sechin, for approving the transaction when he was purchased by the Bashneft company. According to investigators, the head of the oil company, Igor Sechin, gave the cash to Alexey Ulyukaev at the Rosneft office. Ulyukaev allegedly gestured to Sechin in the presence of VTB head Andrei Kostin during a visit to Goa that he wanted “gratitude” for approving the deal. Neither Kostin nor Sechin appeared in court as witnesses, and if the head of VTB was not summoned, then bailiffs were sent to Sechin with a summons four times. At a press conference the day before, Russian President Vladimir Putin said that the head of Rosneft “could come to court.”

“As for Sechin and his failure to appear in court, if there is any violation of the law, then the law must respond to this accordingly. But, as far as I can imagine, and I was certainly interested because I saw the public’s reaction, the law has not been violated in any way. And, as the investigation believes, enough materials have been collected, including the testimony of Sechin himself. But I can’t help but agree that Sechin could have come to court - what’s the big deal here? I could repeat what he stated during the preliminary investigation and interrogations,” Putin said.

Instead of Sechin, his comrade-in-arms, FSB General Oleg Feoktistov, spoke at the trial. At the time of Ulyukaev’s arrest, he headed the security service of Rosneft. The general claimed that last fall, the head of Rosneft, Igor Sechin, told him about a $2 million bribe that Ulyukaev was extorting from him. After this, it was decided to put a microphone on Sechin. The audio recording in which the ex-minister extorted or simply mentioned a bribe was never made public.

Ulyukaev was handcuffed in the courtroom - before that he was under house arrest. The former minister arrived at the announcement of the verdict with a light bag: lawyers expected a suspended sentence, observers predicted a short sentence - up to 3 years with an amnesty after the inauguration in May 2018, or even the so-called “Vasilieva option”, when the former mistress of the Minister of Defense, accused of large embezzlement, appeared in the colony under cameras and immediately disappeared. However, expectations were not met. Speaking on December 7 with his last word, Ulyukaev said that he was the victim of a “monstrous and cruel provocation.”

“Imagine the situation. You have an official you know who for some reason you no longer like. You invite him for a walk and say: “Please hold my briefcase, my shoelace is untied!” And before you have time to tie it, good fellows jump out of the bushes, take this former friend under their white hands and send him to the pre-trial detention center. No person - no problem. However, opening Pandora’s box is easy, closing it will be much more difficult,” Ulyukaev said.

September 3, 2019, Technological development. Innovation On the signing of an Agreement of Intent between the Government of Russia and the Management Company of the Russian Direct Investment Fund in order to develop the high-tech field of Artificial Intelligence in Russia Order No. 1964-r dated September 3, 2019. The signing of the Agreement is aimed at attracting mutually beneficial cooperation between industrial, scientific, educational and other organizations, the pooling of efforts of which is necessary to achieve the target indicators of technological development in Russia.

August 19, 2019, Business environment. Development of competition Rules for the implementation of the action plan “Transformation of the business climate” were approved Resolution of August 10, 2019 No. 1042, order of August 10, 2019 No. 1795-r. The decisions made will make it possible to create a comprehensive system for the formation, monitoring and control of the implementation of the “Transformation of the Business Climate” action plan, establish the powers of expert groups and increase responsibility for the results of their activities, as well as involve business entities in the process of regulatory improvement of business conditions.

August 15, 2019, National Project “International Cooperation and Export” The Strategy for the Development of Exports of Services until 2025 was approved Order of August 14, 2019 No. 1797-r. The purpose of the Strategy is to create the prerequisites for increasing the competitiveness of Russian services in global markets and creating attractive conditions in Russia based on approaches to regulation and taxation of export activities.

August 12, 2019, History. Memory The federal target program “Perpetuating the memory of those killed in defense of the Fatherland for 2019–2024” has been approved Resolution of August 9, 2019 No. 1036. As part of the implementation of the federal target program “Perpetuating the memory of those killed in defense of the Fatherland for 2019–2024,” it is planned, in particular, to arrange and restore military graves on the territory of Russia, and to place the names of those killed in defense of the Fatherland on memorial plaques at the burial sites.

August 12, 2019 The government has submitted to the State Duma a bill on changes to the system of state registration of intellectual property objects Order of August 9, 2019 No. 1771-r. The bill is aimed at developing digital services in the field of examination and state registration of intellectual property. It is envisaged, in particular, that patents and state registration certificates will be issued by Rospatent in electronic form. It is also proposed to establish the possibility of including three-dimensional models of these objects in electronic form in applications for intellectual property.

August 6, 2019, Federal property management The government has submitted to the State Duma a bill to change the procedure for approving reporting requirements for companies with state participation Order No. 1750-r dated August 6, 2019. In accordance with current legislation, the competence of the highest management body of a state corporation and a state-owned company includes the approval of a long-term program of its activities and development, which provides for the implementation of production, investment and financial indicators, or another document on long-term planning. The main document for planning the activities of a public law company is a development strategy that defines the main directions, targets and expected results of its activities for a period of at least five years. In order to increase the efficiency of state corporations, state-owned companies and public law companies, the bill proposes to amend a number of federal laws that define the legal status of state corporations, state-owned companies and public law companies. The Russian government is proposed to be given the authority to approve the requirements for the form and content of their annual reports on the implementation of activity programs and development strategies.

July 29, 2019 The Commission on Legislative Activities approved a bill on changes in the system of state registration of intellectual property objects The bill is aimed at developing digital services in the field of examination and state registration of intellectual property. It is envisaged, in particular, that patents and state registration certificates will be issued by Rospatent in electronic form. It is also proposed to establish the possibility of including three-dimensional models of these objects in electronic form in applications for intellectual property.

July 23, 2019 About the Deputy Minister of Economic Development of the Russian Federation Order No. 1630-r dated July 22, 2019

July 19, 2019 About the Secretary of State - Deputy Minister of Economic Development of the Russian Federation Order of July 17, 2019 No. 1558-r

July 15, 2019 The Commission on Legislative Activities approved a bill to clarify the procedure for compensation for the forced seizure of real estate for state needs in the territories annexed to Moscow Pursuant to the decision of the Constitutional Court of the Russian Federation of February 11, 2019 No. 9-P. The adoption of the bill will make it possible for the owner or other legal holder of the seized property to exercise the right to receive fair and equivalent compensation for the forced seizure of real estate.

July 8, Monday The Commission on Legislative Activities approved a bill on the formation of a unified register of small and medium-sized businesses - recipients of support The bill provides for the formation of a unified register based on information about SMEs - recipients of support, which are included in the relevant registers of federal and regional authorities, local governments, JSC SME Corporation, determines the suppliers of such information and the procedure for their submission to the Federal Tax Service of Russia.

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On the night of November 15, 2016, the Investigative Committee of the Russian Federation announced that the Minister of Economic Development Alexey Ulyukaev received a bribe of two million dollars.

According to the investigation, Ulyukaev illegally demanded money from a representative of PJSC NK Rosneft as a bribe for the legal issuance of a positive conclusion and assessment in relation to the transaction for the acquisition by PJSC NK Rosneft of a state stake in PJSC ANK Bashneft. At the same time, he made threats, using his official powers, to create further obstacles to the company’s activities. The head of the Ministry of Economic Development was detained after an appeal from representatives of Rosneft.

Investigators of the Main Directorate for Investigation of Particularly Important Cases of the Investigative Committee of the Russian Federation charged Alexey Ulyukaev with committing a crime (receiving a bribe by a person holding a public position in the Russian Federation, with extortion of a bribe and on an especially large scale).

Interrogation of Alexey Ulyukaev at the Investigative Committee. During interrogation, he refused to admit his guilt.

The Investigative Committee noted that Ulyukaev’s guilt in taking a bribe is confirmed by “specific marks on his fingers,” and also stated the presence of audio and video recordings.

According to the press secretary of the head of state, Dmitry Peskov, operational development regarding Ulyukaev, Russian President Vladimir Putin was aware of what was happening from the very beginning, received all the information on this case and exchanged data with the head of government Dmitry Medvedev.

Russian President Vladimir Putin in connection with the loss of confidence.

Later, his arrest was extended. At the same time, the ex-minister himself asked the court to choose another, milder measure of restraint. He said that he suffers from atherosclerosis, hypertension and other diseases related to the vascular system. The defense insisted on allowing walks, and later announced the need for hospitalization of the former head of the Ministry of Economic Development.

Currently, the former head of the Ministry of Economic Development of the Russian Federation, Alexei Ulyukaev, is under house arrest.

On January 11, 2017, it became known that the Basmanny Court of Moscow seized more than one million dollars and 280 million rubles in the bank accounts of ex-Minister of Economic Development Alexei Ulyukaev. The ex-minister’s gold coins were also seized, each of which costs from 13 thousand to more than 6 million rubles. Previously, the Basmanny court on ten land plots and a residential building owned by Ulyukaev in the Smolensk region.