OREANDA-NEWS. May 31, 2011. Vladimir Regional Arbitration Court obligated “Lukoil – Volganefteproduct” Ltd. to pay 859,000 Rubles as a “turnover” fine for violating the antimonopoly law, reported the press-centre of FAS Russia.

The punitive sanctions are based on the decision of the Office of the Federal Antimonopoly Service in the Vladimir region (Vladimir FAS Russia), which on 13th January 2010 found that “Lukoil – Volganefteproduct” Ltd. had violated Clause 1 Part 1 Article 10 of the Federal Law “On Protection of Competition by fixing and maintaining monopolistically high retail prices for petrol (grade АI-95).

Vladimir FAS Russia imposed a “turnover” fine upon “Lukoil – Volganefteproduct” Ltd. - 3,169,000 Rubles.

The company disagreed with the decision of the antimonopoly body and filed a lawsuit. Vladimir Regional Arbitration Court confirmed the fact of “Lukoil – Volganefteproduct” Ltd. violating the law, but reduced the fine to 859,000 Rubles.

“The fact that the Arbitration Court confirmed that “Lukoil – Volganefteproduct” Ltd. committed the administrative violation is very important for the Vladimir region”, explained the Head of Vladimir FAS Russia, Mr. Vadim Solovyov.

Reference:

At the end of 2010 – beginning of 2011 regional offices of FAS Russia initiated 56 cases for violating the antimonopoly law on the markets of oil products, of which:

– Concerted actions of economic entities for fixing, maintaining prices for oil products – 25 cases;

– Abusing market dominance (fixing monopolistically high prices for oil products, creating discriminatory conditions, unreasonably refusing to enter into contracts) – 31 cases.

Upon investigating cases at the end of 2010 – beginning of 2011:

The facts of antimonopoly violations were confirmed in 13 cases (of which eight cases – under Article 10, five cases – under Article 11), investigations of 35 cases continues (19 cases – under Article 10, 16 cases – under Article 11), eight cases were closed as the facts of antimonopoly violations were not confirmed (of which four cases - under Article 10, and four cases – under Article 11).