OREANDA-NEWS. April 28, 2011. The Federal Antimonopoly Service (FAS Russia) sent a letter to the First Deputy Mayor of Moscow, Vladimir Resin, that price coordination of the work of Moscow developers is unacceptable, reported the press-centre of FAS Russia.

According to FAS Russia, Mr. Resin’s statement about an unavoidable growth of prices for real estate in Moscow can be considered as a violation of the antimonopoly law.

The antimonopoly authority believes that participants of construction market can interpret such wording by the person responsible for urban development policy and construction in Moscow as a call for actions.

Reference:

Part 3 Article 11 of the Federal Law “On Protection of Competition” prohibits physical persons, commercial and non-commercial organisations to coordinate economic activities of business entities if such coordination results, in particular, in fixing and maintaining prices.

The violation is punishable by a fine up to 50,000 Rubles or disqualification following a court ruling.