OREANDA-NEWS. June 02, 2011.  “Lukoil-Yugnefteproduct” Ltd. paid 11.1 million Rubles as a fine imposed by the Office of the Federal Antimonopoly Service in the Stavropol region (Stavropol OFAS Russia) for violating the antimonopoly law. Earlier the 15th Arbitration Appeal Court confirmed legitimacy of the punishment imposed upon the company, reported the press-centre of FAS Russia.

The fine was imposed on the basis of a decision made by Stavropol OFAS Russia: on 21st December 2007 the antimonopoly body found that “Lukoil-Yugnefteproduct” Ltd. violated Clause 1 Part 1 Article 11 of the Federal Law “On Protection of Competition” by exercising concerted actions with other oil companies, aimed at fixing and maintaining prices for motor fuel.

“Lukoil-Yugnefteproduct” Ltd. disagreed with the decision and filed a lawsuit. The Court of First Instance and the Appeal Court confirmed legitimacy and reasonableness of the conclusions made by the antimonopoly body.

“Considerable expenses associated with paying the fine should be a good preventive measure in order to avoid such violations in the future”, commented the Head of Stavropol OFAS Russia, Mr. Sergey Nikitin.