Log in
Please enter your login details

Skip to main content

Breaking News
  • Death toll from attack on Egyptian security forces in Sinai climbs to at least 25 – Reuters
  • US is looking into reports that Islamic State fighters used chlorine gas against Iraqi security forces, Secretary of State said – Reuters
  • Russian President Putin said he hoped a deal would be reached next week with Ukraine to end a dispute over gas supplies to Kiev – Reuters
  • ECB President Draghi urged euro zone leaders to make a joint effort to avoid “a relapse into recession” – Reuters
  • US nurse Nina Pham who had Ebola now is virus free – Reuters
  • Putin says Europe unlikely to stop importing Russian gas because there is no alternative – Reuters
  • Russian President Putin says United States is not threat to Russia, though Washington’s policies are harmful to his country – Reuters
  • Russian President Putin says Moscow helped former Ukraine President Yanukovich to leave Ukraine for Russia in February – Reuters
  • Canada Justice Minister: plans to introduce legislation to address terrorism “very soon” but considering possible additions – Reuters
  • PM Cameron says EU demand for extra funds “does not help” case to keep Britain in the 28-nation bloc – Reuters

The authorities in Belarus have arrested Vladislav Baumgertner, the head of Russia’s largest potash producer Uralkali.

Invited to Minsk for a meeting with the prime minister, he was then held and charged with abusing his position and official powers, an offence that carries a prison term of up to 10 years.

This comes just weeks after Baumgertner’s firm pulled out of a partnership known as the Belarus Potash Company.

That joint venture controlled more than 40 percent of the world’s exports of potash, which is one of the most-important ingredients in agricultural fertilisers.

The joint sales pact – some called it a cartel – kept a limit on production which pushed up prices. They are now forecast to fall as much as 25 percent in the second half of 2013.

Uralkali’s shares slipped 3.36 percent in Moscow, bringing its losses to about 27 percent since the Belarus Potash Company was dissolved.

Belarus is a close ally of Russia, but the surprise collapse of the potash partnership has strained relations between the two countries.

Russian Deputy Prime Minister Igor Shuvalov was critical of the arrest and called it “rather strange and inappropriate”.

Potash is a valuable source of foreign currency for Belarus which has retained the Soviet economic model, with largely state control.

Copyright © 2014 euronews

More about: