18:57 GMT +320 February 2018
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    Belarus Seeks Damages from Former Uralkali Chief

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    Belarus will seek compensation from Uralkali's former CEO Vladislav Baumgertner for financial damages, Prosecutor General Alexander Konyuk told journalists Friday.

    MINSK, February 7 (RAPSI) - Belarus will seek compensation from Uralkali's former CEO Vladislav Baumgertner for financial damages, Prosecutor General Alexander Konyuk told journalists Friday.

    Belarusian law enforcement authorities earlier estimated damages could reach $100 million.

    Baumgertner was detained in Belarus last August and charged with abuse of power. In November he was turned over to Russia and placed in detention.

    He was transferred to house arrest in December and ordered to wear an electronic monitoring device.

    Russia's Prime Minister Dmitry Medvedev said on December 6 that the Uralkali case had been too politicized, and that a thorough investigation would be carried out.

    Baumgertner was detained in Minsk shortly after Uralkali announced it had pulled out of a cartel arrangement controlling the price of potash.

    The decision caused potash prices to drop sharply on the market. Belarus contends that Baumgertner was responsible for causing huge losses to state-owned Belaruskali.

    Baumgertner and Uralkali deny any impropriety. The company announced in late December that it was replacing him as CEO, though he remains on the board.

    That decision came days after billionaires Mikhail Prokhorov and Dmitry Mazepin completed their purchase of almost half the potash giant's shares.

    The buy-out of the stakes owned by another billionaire, Suleiman Kerimov, and his partners was seen as potentially easing the tensions between the Russian and Belarusian companies.

    Tags:
    Uralkali, Belaruskali, Dmitry Mazepin, Vladislav Baumgertner, Suleiman Kerimov, Mikhail Prokhorov, Dmitry Medvedev, Alexander Konyuk, Belarus
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