OAO Uralkali CEO Vladislav Baumgertner

OAO Uralkali CEO Vladislav Baumgertner

OAO Uralkali CEO Vladislav Baumgertner is being detained in Belarus.  Baumgertner is also the Chairman of the Belarusian Potash Co (a trading venture set up by Russia’s Uralkali and Belaruskali and controlled 40% of global potash exports) and is accused of abusing his position after Uralkali shocked the markets by stating it would be quitting the venture, sending potash prices and stocks plummeting.  According to Uralkali, the reason they decided to quit the venture and end the output restrictions that underpinned world prices was because Belaruskali was allowed to export outside of the trading venture.

If found guilty, Baumgertner faces 10 years in prison.  The Belarusian authorities are also searching for four other Uralkali executives and are claiming damages in excess of $100 million.

Bloomberg article here: Uralkali CEO Detained After Holding Potash Talks in Belarus

Video interview with Vladislav Baumgertner: Uralkali Says Belarusian Potash Split Unavoidable