OREANDA-NEWS. March 04, 2008. The Federal Antimonopoly Service (FAS Russia) recognized that the "Elektrostal" Steel Works OJSC violated Clause 1 Part 1 Article 10 of the Federal Law "On Protection of Competition", reported the press-centre of FAS Russia.

"Elektrostal" Steel Works OJSC" violated the law by abusing its dominant position on the market of the ring blanks made from the alloy EP698-vd and fixing and maintaining monopolistically high price on ring blanks made from the alloy EP698-vd in July-October 2007.

In course of the case processing, the antimonopoly body has not confirmed antimonopoly violations by "Elektrostal" Steel Works OJSC in terms of fixing prices on the ring blanks made from the alloy EP698-vd during the period in question.

The decision and determination in the case will be prepared within the statutory period.

The described antimonopoly violations of Article 14.31 of the Code of Administrative Violations of the Russian Federation are liable with fines.

FAS Russia issued a determination regarding "Elektrostal" Steel Works OJSC on initiating an administrative case and administrative investigation.