Russian Oil Cos. Face Fuel Price Collusion Fines

Law360, New York (August 20, 2008, 12:00 AM EDT) -- A branch of Russia's competition watchdog has ruled that a group of oil companies — including subsidiaries of Lukoil and Rosneft — violated the country's antitrust laws by fixing the price of diesel fuel.

The Federal Antimonopoly Service said in a statement Monday that the agency's Stavropol office had uncovered the collusion after a probe into subsidiaries of Lukoil and Rosneft and other oil companies in the region.

“Investigating the case, the antimonopoly office established that in May, June and July the companies carried out concerted,...
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