Vladimir OFAS Russia: “Lukoil – Volganefteproduct” Ltd. must pay 859,000 Rubles as a fine

The punitive sanctions are based on the decision of the Office of the Federal Antimonopoly Service in the Vladimir region (Vladimir FAS Russia), which on 13th January 2010 found that “Lukoil – Volganefteproduct” Ltd. had violated Clause 1 Part 1 Article 10 of the Federal Law “On Protection of Competition by fixing and maintaining monopolistically high retail prices for petrol (grade АI-95).
Vladimir FAS Russia imposed a “turnover” fine upon “Lukoil – Volganefteproduct” Ltd. - 3,169,000 Rubles.
The company disagreed with the decision of the antimonopoly body and filed a lawsuit. Vladimir Regional Arbitration Court confirmed the fact of “Lukoil – Volganefteproduct” Ltd. violating the law, but reduced the fine to 859,000 Rubles.
“The fact that the Arbitration Court confirmed that “Lukoil – Volganefteproduct” Ltd. committed the administrative violation is very important for the Vladimir region”, explained the Head of Vladimir FAS Russia, Mr. Vadim Solovyov.