OREANDA-NEWS. On December 22, 2008 the Krasnoyarsk Office of the Federal Antimonopoly Service (OFAS Russia) found that "Sibneft-Krasnoyarsknefteproduct" Ltd., "Fortuna Plus" Ltd. and "Krasnoyarsknefteproduct" OJSC ("KNP" OJSC) violated Article 11 of the Federal Law "On Protection of Competition" that prohibits concerted actions between economic entities, which can result in fixing or maintaining prices, reported the press-centre of FAS Russia.

The Krasnoyarsk OFAS Russia established that in 2007 companies had simultaneously increased and maintained retail prices for А-80, Аi-92 and Аi-95 petrol. As these companies control a large share of the retail oil products market, they possess significant market power, which enables them to influence general conditions of oil products circulation. Thus, maintaining the same price level by the companies led to eliminating price competition.

Under Article 14.32 of the Code of the Russian Federation on Administrative Violations, if an economic entity enters into a competition-restrictive agreement that is forbidden by the antimonopoly legislation of the Russian Federation, or is engaged in concerted actions that restrict competition and are forbidden by the antimonopoly legislation of the Russian Federation, such actions are punishable by administrative fines imposed upon legal entities - from one hundredth to fifteen hundredth on the proceeds gained by the violator from selling goods (works, services) on the market where the violation occurred.