Belarus to extradite Uralkali CEO to RussiaNovember 21, 2013 @ 12:59 am
MOSCOW (AP) - Belarus will send home the jailed chief executive of Russia's largest potash company whom it accused of harming Belarusian economy, Russian officials said on Monday.
Uralkali's CEO Vladislav Baumgertner was arrested in August and placed under house arrest a month later as a row between Uralkali and its Belarusian trading partner escalated. Analysts have described Baumgertner's arrest as retaliation for Uralkali's decision to pull out of a joint venture.
Potash is a key ingredient in fertilizer, and Uralkali and the Belarusian state-owned business had been exporting the commodity through a jointly-run trading venture since 2005. Together they accounted for about a quarter of the world's potash trade this year, giving them significant influence over global prices.
Prosecutor General's Office said in a statement Thursday that Belarus has agreed to extradite Baumgertner, who has been kept in an apartment under surveillance since September. It said he will be home "soon."
Uralkali pulled out of a trading venture with its partner in Belarus in July after it accused the government in Minsk of allowing the state-owned company to export potash independently. The withdrawal left Belarusian Potash Co. with virtually no qualified staff and raised fears of a price war. Belarusian President Alexander Lukashenko claimed that Uralkali and Baumgertner's actions harmed his country's economy.
Baumgertner is suspected of "abusing his powers," an accusation that his business partners and some Russian officials found absurd because the executive was not an official and therefore had no powers to abuse. Uralkali has denied the charges, describing Minsk's actions as blackmail.
Thursday's announcement comes days after a former Russian presidential candidate, Mikhail Prokhorov, said he would buy out 22 percent in Uralkali from billionaire Suleyman Kerimov who fell out with Lukashenko.
Lukashenko earlier threatened to bring charges against Kerimov in Belarus, and said that Baumgertner would be allowed to go only if he pays the damages that he allegedly caused, estimated at $100 million. It was not clear Thursday if Baumgertner would have to pay out the damages.
Belarusian prosecutors were not immediately available for comment.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Return to Dominance
The Seahawks beat Arizona 35-6 to move into tie for NFC West lead
Week in Photos
Cheetahs, penguins and Santa make it in this week's photos
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.