MOSCOW, November 21 (RAPSI) – Belarus will extradite Uralkali CEO Vladislav Baumgertner to Russia in the nearest time, Russia's Prosecutor General's Office announced Thursday.

According to the statement, on November 20, Belarusian prosecutors at the request of Russia decided to extradite Baumgertner.

Baumgertner was detained in Minsk on August 26. According to the Belarusian authorities, the criminal case against him was launched as the result of a probe into abuse of power allegations that led to grave damage to the public interests of Belarus, and damages to the company Belarusian Potash.

The charges followed a July decision by Uralkali to dissolve its international cartel with Belaruskali, sending potash prices spiraling down. Baumgertner remains in Minsk since he was placed under house arrest in September.

Belarus President Alexander Lukashenko said that Baumgertner might be extradited to Russia if he covers the alleged losses.

A criminal investigation into the chief executive of the world's largest potash producer was opened in Russia on October 15. On October 21, Moscow's Basmanny District court issued an arrest warrant in absentia for Baumgertner.