Law360, New York (February 17, 2009, 12:00 AM EST) -- Russian competition authorities have reportedly launched investigations of four major oil companies — Lukoil, Rosneft, TNK-BP and Gazprom Neft — based on claims that the quartet kept gas prices high despite tanking world prices, a probe that comes in the wake of price-fixing penalties authorities have already levied against the companies in recent months.
Igor Artemyev, head of Russia’s Federal Antimonopoly Service, said Tuesday that the regulator opened four separate investigations of the companies, Reuters reported.
In support of the decision, Artemyev pointed to the fact...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.