Monday 26 August 2013

Uralkali Chief Detained in Belarus | Business | The Moscow Times

Uralkali Chief Detained in Belarus | Business | The Moscow Times:

"The head of Russia's largest potash producer Uralkali has been detained in Belarus, Russian news agencies reported Monday, escalating friction between the two ex-Soviet neighbors after the collapse of a joint sales pact.

Vladislav Baumgertner, also a supervisory board member at the Belarus Potash Company, or BPC, was held by the Belarussian Investigative Committee on suspicion of abusing his position and official powers, RIA Novosti reported.

Uralkali pulled out of the BPC partnership at the end of July, hitting shares in potash firms and raising the prospect of aggressive competition in a market where a few suppliers have long been able to command high prices for the soil nutrient.

The Russian company declined immediate comment, and the Belarus Investigative Committee, the country's top crime-fighting body, also could not be reached for immediate comment."

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