OREANDA-NEWS. On November 13, 2008 the Federal Antimonopoly Service (FAS Russia) imposed administrative charges upon "Ruspolimet" OJSC and fined the 1'179'626,44 Rubles for abusing dominant position and fixing and maintaining monopolistically high prices for ring blanks from nickel-containing alloy, reported the press-centre of FAS Russia.

On 1st October 2008, FAS Russia recognized that "Ruspolimet" OJSC violated Clause 1 Part 1 Article 10 of the Federal Law "On Protection of Competition" and issued a determination to eliminate the violations.

The case was initiated upon a petition form the "Salut" Moscow Machine-Building Production Enterprise" Federal State Unitary Enterprise.

Investigating the case, FAS Russia established that from January 2006 to October 2007 "Ruspolimet" OJSC fixed monopolistically high prices for ring blanks from nickel-containing alloy, which are used for manufacturing aircraft engines.

Under Article 14.31, of the Code of the Russian Federation on Administrative Violations, abusing dominant position is punishable by administrative fines upon legal entities - 1-15% of the net sales of the violator of the market where the violations occurred in the year preceding that year when the violation was revealed, but no more than 2% of the net sales of all goods.

Determining the amount of fine, FAS Russia took into account that "Ruspolimet" OJSC had voluntarily reduced prices and admitted the antimonopoly violation.