OREANDA-NEWS. December 08, 2008 The Irkutsk Regional Arbitration Court sustained the decision of the Irkutsk OFAS Russia of 25th July 2008 that "Rosneft" Oil Company" OJSC violated Clause 8 Part 1 Article 10 of the Federal Law "On Protection of Competition", reported the press-centre of FAS Russia.

"Rosneft" Oil Company" OJSC violated the law by creating preferential conditions for buying oil products for its daughter companies (in particular, "Irkutsknefteproduct") and discriminatory conditions for the buyers that are not members of the "Rosneft" group. The Federal Law "On Protection of Competition" forbids economic entities, that have dominant position on the market, to exercise actions that can lead to prevention, restricting or eliminating competition or infringing the interest of other entities/persons.

The Irkutsk OFAS Russia will reopen administrative proceedings against "Rosneft" Oil Company" OJSC after the ruling of the Arbitration Court comes into force.

According to the Administrative Code, ordains sanctions 1-15% of the proceeds gained by the violator. In this case, the fine should be assessed for the proceeds gained by "Rosneft" on the Priangarye petrol markets in the first quarter 2008. Sanctions will amount 229 072 567 Rubles.