OREANDA-NEWS. May 03, 2011. “Rosneft NK” OJSC transferred 1,508,688,396 Rubles to the federal budget as an administrative fine imposed upon investigating the “first wave” of cases on antimonopoly violations on the market of oil products, reported the press-centre of FAS Russia.

In 2008, the Commission of the Federal Antimonopoly Service (FAS Russia) found that “Rosneft NK” OJSC violated Clause 1 Article 10 of the Federal Law “On Protection of Competition” and fined the company under Article 14.31 of the Code of the Russian Federation on Administrative Violations (1 to 15% of the income of the violator from selling goods (works, services) on the market where the violation was committed).

“Rosneft NK” OJSC fixed and maintained monopolistically high prices for oil products and created discriminatory conditions selling oil products to economic entities that were not members of the company’s group of persons.

FAS exposed violations on the markets of motor petrol, diesel fuel, fuel oil and aviation kerosene in Q4 2007 and first six months of 2008.

“Jointly with our regional offices we constantly monitor wholesale and retail markets of oil products and the level of prices in the regions”, explained the Head of FAS Russia’s Department for Control over Fuel and Energy Complex, Ms. Nadezhda Dianova.