Novak Djukic, 52, was arrested near the northern city of Banja Luka and will face war crimes charges, prosecutors said.
A single shell was fired from a Serb position on Mount Ozren on May 25, 1995, killing 71 and wounding more than 120 people in Tuzla's main square.
Most of the victims were young people, the youngest a 3-year-old boy. It was considered to be one of the worst massacres of the 1992-1995 Bosnian war.
At the time of the shelling, Djukic was an officer of the Bosnian Serb army and he is suspected of having committed a criminal offense of war crimes against a civilian population, prosecutors said.
Putin's official spokesman Dmitry Peskov commented on remarks in the US media about failures in launching nuclear-capable missiles in Russia
The Buk system that shot down MH17 belonged to the 53rd SAM missile brigade of the Russian Ministry of Defense, investigators say after looking at a few pictures on the net
It has long been understood that the West has been trying to subject Russian borders to total control. We have not seen such activity even during the Cold War