OREANDA-NEWS. On November 05, 2008 the Belgorod Office of the Federal Antimonopoly Service (OFAS Russia) recognized that "Oskolneftesnab" CJSC and "Starooskolskaya neftebaza" Ltd. violated the Federal Law "On Protection of Competition" by engaging in concerted actions on the retail market for oil products, reported the press-centre of FAS.

The case against the company was initiated upon breaching Article 11 of the Federal Law "On Protection of Competition", which forbids competition-restrictive agreements and concerted actions between economic entities. "Oskolneftesnab" CJSC and "Starooskolskaya neftebaza" Ltd. set similar prices for motor petrol and diesel fuel in the same time intervals, which raised suspicion of the Antimonopoly Office.

Having investigated the case, the Belgorod OFAS Russia recognized that the companied were engaged in concerted actions and issued determinations to both companies requesting them to stop the actions which contravened the antimonopoly legislation.

The Belgorod OFAS Russia initiated a case under Article 14.32 of the Code of Administrative Violations, according to which such antimonopoly violations are punishable by fines upon legal entities from one hundredth to fifteen hundredth of the net sales by the violator on the market where the violation occurred.