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Russia Opens New Antitrust Probes Of Oil Giants

Law360 (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...
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