OREANDA-NEWS. February 05, 2013. Moscow Arbitration Court confirmed legitimacy of the determination imposed by the Federal Antimonopoly Service (FAS Russia) to fine “VIZ-Steel” Ltd. 97,682,625 Rubles, reported the press-centre of FAS Russia.

On 13th February 2012, the FAS Commission found that a group of persons comprising “NLMK” OJSC and “VIZ-Steel” Ltd. violated Article 10 of the Federal Law “On Protection of Competition” (abusing market dominance). The companies violated the law by fixing monopolistically high prices for grain-oriented electrical steel.

FAS fined “VIZ-Steel” Ltd. 97,682,625 Rubles.

The company filed a lawsuit to Moscow Arbitration Court challenging the fine. The Court, however, confirmed legitimacy of FAS actions and upheld the fine.