Uralkali CEO released from jail but still under house arrest in Minsk

26 September 2013 10:45  [Source: ICIS news]

MOSCOW (ICIS)--The Belarus authorities on Thursday released the CEO of Russia's major potash producer Uralkali, but he remains under house arrest in the capital Minsk.

Uralkali CEO Vladislav Baumgertner was transferred to a rented apartment in Minsk, selected and controlled by Belarus security service KGB, the CEO's lawyer Alexey Basistov said in televised remarks.

Baumgertner remains under house arrest, Basistov said, calling for him to be released without any conditions.

Baumgertner was arrested in Minsk on 26 August. As a former executive of  the Belarusian Potash Company (BPC), Baumgertner still faces charges of abusing his powers and up to 10 years in jail.

The arrest followed a dispute between Belarus potash monopoly Belaruskali and Russia's major potash producer Uralkali.

On 30 July, Uralkali suspended ties with the BPC and Belaruskali, and discontinued exports through the BPC, created as a joint venture of Belaruskali and Uralkali.

Earlier this month, the Belarus authorities exempted potash from export duty from 1 September till 31 December, 2013.

On 19 September, Belarus President Alexander Lukashenko claimed that Uralkali was in fact bankrupt and accused the company of international fraud, carges which Uralkali rejected.

By: Sergei Blagov
+44 20 8652 3214

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