Belarus to seek $100 mln damages from ex-CEO over Uralkali case

Belarusian authorities are going to file a lawsuit against former Uralkali chief executive Vladislav Baumgertner seeking damages over potash dispute, Belarusian Prosecutor General Aliaksandr Kaniuk said.

Baumgertner was detained in Belarus in August 2013. 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 state-run company Belarusian Potash (Belaruskali).

The charges followed a July decision by Uralkali, the world’s largest potash producer, to dissolve its international cartel with Belaruskali, sending potash prices spiraling down.

Baumgertner was extradited to Moscow and placed under house arrest in November as criminal charges were brought against him by Russian authorities. His detention was extended a number of times when Moscow’s Basmanny District Court released him on 15-million-rubles ($379,000) bail.

Belarusian authorities estimated the damages allegedly caused at $100 million., following Russian Legal Information Agency

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