OREANDA-NEWS. August 27, 2012. This is not the first time when the Antimonopoly Service issues a determination to the leaders of the Russian Fuel Union regarding their repeated statements in mass media about growth of prices for motor fuel. Such forecasts can provoke feverish demand for oil products and result in unreasonable growth of prices, reported the press-centre of FAS Russia.

On 23rd August 2012, the Federal Antimonopoly Service (FAS Russia) warned the Executive Director of the Russian Fuel Union, Grigory Sergienko, that actions, which can lead to violating the antimonopoly law, are inadmissible. Earlier Mr. Sergienko repeatedly made statements in media forecasting growth of consumer prices for oil products in the Russian Federation.

FAS warned Grigory Sergienko that such statements can mean coordinating pricing policy of the members of the association.

The Antimonopoly Service reminded in its letter that the Russian Fuel Union is a non-commercial organization, the objectives of which are developing common positions by participants of the oil market, as well as conducting policy towards creating and improving conditions for productive work of companies selling, storing and transporting oil, oil products and gas. Participants of the relevant market can perceive the public statements of Mr. Sergienko as guidelines for their pricing policy.

FAS carries out daily monitoring of prices for oil products. If signs of unreasonable price growth are revealed, the Antimonopoly Service shall undertake measures of antimonopoly regulation.

Reference:

Article 25.7 of No.135-FZ Federal Law “On Protection of Competition” of 26th July 2006 warns about inadmissibility of actions that can lead to violating the antimonopoly law.

Under Part 5 Article 11 of No.135-FZ Federal Law “On Protection of Competition” of 26th July 2006, physical persons, commercial organizations and non-commercial organizations are prohibited coordination of economic activities of economic entities if such coordination leads to any of the consequences specified in Parts 1 - 3 of this Article, that cannot be allowed under Articles 12 and 13 of this Federal Law or that are not provided for by the federal laws.