Sanctions scare Russian partners
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9:10, — Economics
The imposed by the USA sanctions against enterprises of Belneftekhim didn’t affect the Joint Stock Venture Uralkali. It was said in the announcement of Uralkali.
Uralkali sales its production on the world market through the joint with the republican unitary enterprise "Production Association “Belaruskali” enterprise – Belarusian Potash Company (BPC).
As the Russian company notes, the US authorities didn’t impose sanctions against the BPC and business activities are passed in working mode now. But it can’t be excluded that the US sanction will affect the activity of BPC in future. In this connection, the BPC intends to enter into a dialogue with the USA to help seek clarification of the situation.
Uralkali mines the second large in the world reserves of potash-magnesium salts in Verhnekamsk area. The main consumers of its production are China, India, Brazil and Malaysia. On the results of 2006, the company has decreased the production of potassium chloride by 22% from 5.4 mln tons to 4.2 mln tons.
The Uralkali’s ownership capital amounts RUR 1.06 bln, 2.124.390.000 of common shares at RUR 0.5 were emitted. The controlling block of shares is owned by Dmitry Rybolovlev, the Chairman of the Board of the directors. 14.4% of company’s share is free float.
The Bush’s administration froze the assets of Belarusian state concern Belneftekhim 13 November. The US authorities said the reason was that the concern was controlled by Aliaksandr Lukashenka. The imposed by the US Treasury Department sanctions target all representative offices of Belneftekhim in Germany, Ukraine, Latvia, Russia and China, as well as a US subsidiary identified as Belneftekhim USA. As it is known, the USA requires stopping repressions in Belarus and releasing political prisoners.
“Until the political prisoners are released, the USA will impose sanctions,” said David Kramer, US Deputy Assistant Secretary of State for European and Eurasian affairs.
