Uralkali CEO detained in Belarus

|About: Uralkali Jsc 144 A (URALL)|By:, SA News Editor

The head of Russian potash producer Uralkali (URALL.PK) has been detained in Belarus on suspicion of abusing his position and official powers.

Belarus is a staunch Russian ally, but Uralkali's surprise decision to quit the potash trading venture with BPC in July strained relations between the two countries; a cheaper potash price could hit the value of Belarus' currency.

Separately, Uralkali reportedly is in talks to buy distributors on key markets to maximize sales, part of its new low-cost strategy.

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