Russian Oligarch and Uralkali Chairman Suleiman Kerimov

 Uralkali Chairman Suleiman Kerimov

The Belarusian/Russian potash conflict continues to deepen after the Belarusian government detained OAO Uralkali CEO Vladislav Baumgertner on Monday.  Russia has officially responded to the actions taken by Belarus by ordering Russian oil companies to cut oil exports to Belarus by one quarter.  Uralkali Chairman, Suleiman Kerimov, has been cited by Belarusian authorities as potentially being criminally charged for his part in Uralkali's decision to exit the potash cartel.  Kerimov has close ties to Putin and the Kremlin and is clearly using his influence in Moscow.

This increased hostility has diminished any hopes of re-establishing Belarusian Potash Co, the potash cartel, between Uralkali and Belaruskali, which was dismantled last month after Uralkali announced it was exiting the agreement.

Uralkali controls 20% of the global potash markets and Kerimov reportedly holds a 25% ownership stake in the company making him the 20th wealthiest person in Russia, with a net worth of over $7 billion.

Article: Russia to Cut Belarusian Oil Supplies by 25%