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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Headlines

    Posted By Global Banking and Finance Review

    Posted on April 16, 2025

    Featured image for article about Headlines

    MOSCOW (Reuters) -The former governor of Russia's Kursk region, parts of which were seized by Ukrainian forces in August 2024, has been detained and charged with embezzling money earmarked for building defences, Russia's interior ministry said on Thursday.

    Alexei Smirnov was head of the western region when Ukrainian troops smashed across the border in a large-scale incursion. Since then, a Russian offensive has ejected most of the Ukrainian forces.

    Smirnov led the region from May to December 2024, when he was replaced by Alexander Khinshtein. Smirnov was detained along with his former deputy, Alexei Dedov. A Moscow court placed Smirnov in pre-trial detention for two months.

    In a statement posted on Telegram, the interior ministry said the charges concerned funds that had been allocated for building defensive structures in the border province.

    It said the case was related to previous arrests on abuse of office charges of three Kursk region officials and businessmen responsible for building defences. At the time, media reported that the damages related to that case were around 800 million roubles ($9.64 million).

    Neither Smirnov nor a representative for him could be contacted for comment.

    In the first hours of Ukraine's August incursion into Kursk, Smirnov repeatedly offered assurances that the situation was under control, even as Russian border guards were left reeling and in retreat by the surprise attack.

    Days later, Smirnov was gently reprimanded by President Vladimir Putin during a televised meeting for focusing on the military situation in his report to the head of state, rather than on efforts to help civilians in the Kursk region.

    Russia has in the past year detained a string of top military officials, including a former deputy defence minister, amid a flurry of high-level corruption cases.

    ($1 = 82.9955 roubles)

    (Reporting by Reuters; Writing by Maxim Rodionov and Felix Light; editing by Mark Trevelyan, Matthew Lewis and Mark Heinrich)

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