Russian President Vladimir Putin fired the country's defense minister on Tuesday, two weeks after a criminal probe was opened into alleged fraud in the sell-off of military assets.

Putin made the announcement of Anatoly Serdyukov's dismissal in a meeting with Moscow regional governor Sergei Shoigu, whom he appointed as the new minister.

Putin's comments appeared to connect the decision to a probe announced by the country's top investigative agency last month into the sale of assets, including real estate, at prices far below market value.