Russia Hits Rosneft With $181M Fine; Lukoil Is Next

Law360, New York (October 27, 2009, 6:05 PM EDT) -- Russia’s antitrust regulator reportedly has slapped Rosneft, the country’s biggest oil producer, with a fine of 5.3 billion rubles ($181 million) for monopolizing the domestic wholesale oil products sector in the first half of this year, with plans to impose a fine against Lukoil over similar antitrust violations next month.

Russia's Federal Antimonopoly Service said Tuesday that it stuck Rosneft with the fine because the company had taken oil products off the market, leading to a spike in wholesale oil product prices, a reduction in competition...
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