OREANDA-NEWS. December 08, 2008 The Federal Antimonopoly Service (FAS Russia) warned Gennady Shmal, the President of the Union of Oil & Gas Industrialists that actions and statements aimed at coordination of economic activities of business entities operating on the market are unacceptable, reported the press-centre of FAS Russia.

The reason for FAS Russia's warning: the statement of Mr Shmal in the interview to the "Rossiiskaya Gazeta" newspaper that petrol price reduction would be temporary and "by the end of December retail prices for petrol can decrease by 1 roubles and after the New Year it will go up again".

FAS Russia qualifies such forecasts as unlawful because they send signals to oil companies for engaging in certain collective actions on the market.