10-28-13 3:27 AM EDT | Email Article

MOSCOW--Belarus has extended its criminal investigation into Russian potash producer OAO Uralkali's (URKA.RS) Chief Executive Vladislav Baumgertner for two months, news agencies cited Belarus's top investigative body as saying Monday.

"There has been no change in the restrictions placed on Vladislav Baumgertner: He remains under house arrest," Belarus's Investigative Committee said, state news agency Belta reported.

Mr. Baumgertner was arrest in August after Uralkali pulled out of a joint trading venture with state-controlled Belaruskali, called Belarus Potash Co., or BPC. That upended the global market for the fertilizer ingredient, which had long kept prices high by limiting output. Mr. Baumgertner was arrested in Minsk after meeting with the Belarusian prime minister and charged with abusing his power as the head of BPC.

Belarusian President Alexander Lukashenko has said Mr. Baumgertner could be sent back to Russia if he were to face charges there. Prosecutors have since filed a case against him in Moscow, although analysts expect he may never serve jail time in Russia.

Mr. Baumgertner has consistently denied any wrongdoing.

 

Write to Moscow Bureau at djnews.moscow@dowjones.com

 

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(END) Dow Jones Newswires

October 28, 2013 03:27 ET (07:27 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.
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