MOSCOW, August 4 (RAPSI) – The Moscow City Court on Monday upheld a previous court decision to extend the house arrest of former CEO of world’s largest potash producer Uralkali, Vladislav Baumgertner, until October 14, RAPSI reports from the courtroom.
The court thus rejected an appeal filed by the defense of Baumgertner.
The Belarusian-Russian potash row sparked in late July 2013, when Uralkali declared that it stop selling its product through the Belarusian Potash Company (BKK). The trader dealt primarily with Russian Uralkali and state-run Belaruskali, with both sides accusing another of undocumented sales without the aid of BKK.
Baumgertner was shortly after arrested in Minsk on the charges of abuse of office. In late November, the CEO was extradited to Moscow and then placed under house arrest. The Belarusian authorities issued an international APB for Uralkali’s shareholder, billionaire and former Russian senator Suleiman Kerimov, but later withdrew it.
Since 2013 the Uralkali’s major shareholders are Mikhail Prokhorov (27,09% with 21,75% within his Oneksim group) and Uralchem holding (20%).