On 14 August 2000, as vice-premier, President Putin put him in charge of the Kursk rescue operation following its disastrous sinking. On 29 or 20 August, he announced that the likely cause of the sinking was a "strong 'dynamic external impact' corresponding with 'first event'", probably a collision with a foreign submarine or a large surface ship, or striking a World War II mine. This later proved to be completely unfounded. In February 2002, Putin designated Klebanov as Minister of Industry, Science and Technology. This move was seen as a demotion by many.