Cases Opened against 5 Oil Companies over Monopoly Charges

16.07.2008 (10:30)

The Federal Anti-Monopoly Service has brought lawsuits against LUKoil, Gazprom Neft, TNK-BP Holding, Rosneft, and Surgutneftegas over alleged monopoly abuse, which pushed up wholesale prices for jet and diesel fuel in Russia.

The federal service also brought the charge of breaching the competition protection law against Gazprom Neft and TNK-BP Holding, arguing that they have set economically and technologically unreasonable prices on the same product, reports RBC.

As reported earlier, since 2008 the federal service has opened over 150 cases over anti-monopoly law violations in Russia's fuel and energy sector. However, the measures did little to stabilize the situation and lower the prices, which prompted the service to redouble its efforts.

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