OREANDA-NEWS. November 20, 2007. JSC Uralkali has learned that the US Treasury recently announced that Belarusian State Concern for Oil and Chemicals (Belneftekhim), along with its representative offices in Germany, Latvia, the Ukraine, Russia, and China, and its wholly-owned U.S. subsidiary Belneftekhim USA, Inc., were added to the Treasury's list of Specially Designated Nationals and Blocked Persons, with the result that any assets under U.S. jurisdiction held by these entities, or entities, inter alia, operated for their benefit or controlled by them, must be frozen, and U.S. persons are prohibited from transacting or doing business with such entities. BPC (Uralkali’s export trader and a 50% joint venture with Belaruskali) has not been added to the Treasury's list. Uralkali’s operations have not been affected by the above designation to date, either through BPC or otherwise, and the Uralkali believes its operations should be able to continue without any material effect. However, BPC could ultimately be affected and so Uralkali continues to evaluate this situation and its potential impact on the company. In particular, Uralkali intends to enter into a dialogue with the US Treasury to help seek clarification of the situation.