Monday, August 26, 2013

Russian Deputy Russian Prime Minister: "Arrest of Uralkali Ceo Strange, Inappropriate" (URKA; POT; MOS; IPI)

Mosaic is up 1.93%; Potash Corp is up 2.04% and Intrepid is up 2.74%. Uralkali closed down 3.5% on the MICEX. The Belarusias are talking 10-yeear prison sentences.
From The Voice of Russia:

Situation with Uralkali CEO's arrest in Minsk strange, inappropriate - Shuvalov 
 ..."What happened today is out of all proportion. We think this is a very strange situation, bearing in mind the nature of our mutual relations," Shuvalov told reporters.

"This is of course very strange, inappropriate, and not in the partnership spirit," he said.
Shuvalov said he had briefed Russian Prime Minister Dmitry Medvedev on the situation and that he had given "all the necessary instructions."

"All the relevant agencies, including the Russian Interior Ministry, are at work," he said.
Shuvalov confirmed Baumgertner had traveled to Belarus on the Belarusian prime minister's invitation and had been detained following a meeting with him.

"We are following the situation that develops between BPC [Belarusian Potash Company] and Uralkali closely. We regret that this is developing so roughly, as this project heralded, in the context of our processes to form the Customs Union and Single Economic Space, real integration in production and in joint approaches in trade," Shuvalov said.

"The Russian government had absolutely nothing to do with the scandal, in the complex situation that has arisen in connection with the fact that a single export window was broken - neither the government as a whole nor individual agencies," he said....MORE