- 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.
- POT +4%, MOS +3.1%, AGU +1.6%, IPI +3.7% premarket.
Uralkali CEO detained in Belarus
Aug 26 2013, 08:56 ET