MOSCOW, December 10 (RAPSI) – Uralkali CEO Vladislav Baumgertner, who faces abuse of power charges in Russia, has been released from a Moscow pre-trial detention center and placed under house arrest, RIA Novosti reported Tuesday citing Federal Penitentiary Service spokesperson Sergey Tsygankov.

Baumgertner was detained in Belarus last August and charged with abuse of power. In November he was turned over to Russia and placed in detention. According to Tsygankov, he was held in a cell with three other suspects until he was placed under house arrest. He added that Uralkali CEO was ordered to wear an electronic monitoring device. The official didn’t provide any additional details on restrictions imposed against Baumgertner.

Uralkali, which is the world's largest potash producer, has applauded the Federal Penitentiary Service's move."The company acclaims the changing of the pre-trial restrictions against Vladislav Baumgertner... The company and and its board of directors keep watching closely after the situation and are ready to take all necessary steps to defend Uralkali's interests and its shareholders," the company's statement reads.

Russia's Prime Minister Dmitry Medvedev said on December 6 that the Uralkali case had been too politicized, and that a thorough investigation would be carried out.

The charges against Baugertner in Belarus followed a July decision by Uralkali to dissolve its international cartel with Belaruskali, sending potash prices spiraling down.