MOSCOW (AP) — Russia's largest potash producer, Uralkali, says Belarus' prosecution of its CEO is an attempt to keep the company from competing in the local market.
Uralkali pulled out of a trading venture with its partner in Belarus in July, raising fears in the former Soviet state of a pricing war with Russia. Uralkali CEO Vladislav Baumgertner was arrested in Belarus last week on suspicion of "abusing his powers," and Belarusian authorities issued an arrest warrant for Uralkali shareholder Suleyman Kerimov.
Uralkali said in a statement on Tuesday that Belarusian authorities have launched a "politically motivated persecution" against the company "in order to cause damage to Uralkali, which is the main competitor of state-owned Belaruskali."
Uralkali said it will contest the actions of Belarusian authorities in court.
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