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Investigative Committee set to institute criminal proceedings against Uralkali's top shareholder

The Investigative Committee plans to institute criminal proceedings against Russian billionaire Suleiman Kerimov, the top shareholder of Russia's potash producer Uralkali, Pavel Travulka, spokesman for the Committee, told BelaPAN.

The possible criminal case against the businessman, who is said to directly own a 17-percent stake in Uralkali, stems from the collapse of a Belarusian-Russian potash sales cartel, which Minsk claims has caused the country severe economic damage.

Mr. Travulka said that criminal cases may also be opened against more potash executives, including Belarusian citizens.

These people may be arrested or put on Interpol's wanted list, he added.

Uralkali Director General Vladislav Baumgertner was arrested in Minsk on August 26.

The Belarusian authorities are seeking the arrest of more executives who combined their duties in Belarusian Potash Company (BPC) and Uralkali. These include Oleg Petrov, a member of the BPC's supervisory board; Konstantin Solodovnikov, first deputy director general; Igor Yevstratov, deputy director general; and Dmitry Samoilov, head of the chartering department. The four named suspects are Russian citizens. They have been placed on Interpol's wanted list and are said to be staying in Moscow.

The arrest of Mr. Baumgertner is linked to Uralkali's July 30 decision to de facto quit Belarusian Potash Company, its joint trader with Belarusian potash giant Belaruskali. Mr. Baumgertner is chairman of the BPC supervisory board.