OREANDA-NEWS. June 01, 2011. “Tambovnefteproduct” CJSC transferred 11,914,205.20 Rubles to the federal budget as an administrative fine for violating the antimonopoly law, reported the press-centre of FAS Russia.

In 2009, the Commission of the Office of the Federal Antimonopoly Service in the Tambov region (Tambov FAS Russia) found that “Tambovnefteproduct” CJSC violated Clause 1 Article 10 of the Federal Law “On Protection of Competition”. The company fixed and maintained monopolistically high prices for oil products on retail markets in the Tambov region in September 2008 – January 2009. Tambov FAS Russia imposed a fine upon “Tambovnefteproduct” CJSC under Article 14.31 of the Code of the Russian Federation on Administrative Violations.

The company filed a lawsuit challenging the decision of Tambov FAS Russia. The Courts of two instances pronounced the decision invalid. However, on 4th February 2011 the Cassation Court upheld the decision of the antimonopoly body. On 28th April 2011, Tambov Regional Arbitration Court pronounced legitimacy of the definition of Tambov FAS Russia to impose an administrative fine.

“Continuous monitoring of prices for oil products enabled OFAS to expose the fact of fixing monopolistically high price and suppress the violation of the antimonopoly law. This is the first large fine paid by the company. We hope that unavoidability of punishment for monopolistic actions will play a positive role towards stabilizing the market of oil products in the Tambov region”, explained the Head of Tambov FAS Russia, Elena Grechishnikova.