Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Probe Begins In Norilsk Deal

Russia's top prosecutor said Monday he is investigating the sale of the world's largest producer of nickel to the bank that handled its auction.

"I think that the results of this investigation will give us rich food for action, including criminal prosecution," Prosecutor General Yury Skuratov told reporters.

Skuratov said he was putting together a task force that would include federal intelligence agents and tax police.

The force will investigate the privatization of Norilsk Nickel and other state-owned industries auctioned off in a highly criticized loans-for-shares program, he said.

Loans-for-shares was the brainchild of Uneximbank, which also handled the cash for the entire program.