Russia Mulls Antitrust Fines For Rosneft and LUKoil

Law360, New York (December 18, 2008, 12:00 AM EST) -- Russia's competition agency is reportedly considering slapping the country's biggest oil companies, Rosneft and LUKoil, with tens of millions of dollars in fines for allegedly abusing their dominant positions to keep fuel and gasoline prices high.

On Wednesday, the Russian Federal Anti-monopoly Service (FAS) released a statement indicating that it might fine Rosneft around 1.8 billion rubles ($66 million) and LUKoil 1.5 billion rubles ($55 million), according to Reuters and various other media outlets.

Though no formal decision has been made, the agency is expected to...
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