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Fines on fuel companies to be decided on in 2-3 months – FAS chief

September 13, 2011, 17:27 UTC+3
At the end of 2010, 50 percent of all violations of the antitrust laws were in the energy sector
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MOSCOW, September 13 (Itar-Tass) —— A decision on the amount of fines in respect of vertically integrated oil companies within the frameworik of the third wave of anti-trust probes will be made within two to three months, the deputy head of the Federal Antimonopoly Service of Russia (FAS), Anatoly Golomolzin, said. He explained that "decisions will be made depending on aggravating or mitigating circumstances."

When asked by reporters about the investigation of the TNK-BP, Transneft and Surgutneftegaz, Golomolzin said that "no cases against these and other companies have been opened yet."

He recalled that at the end of 2010, 50 percent of all violations of the antitrust laws were in the energy sector. The deputy head of the FAS said that the fuel and energy complex was also the leader in terms of the size of fines. Vertically integrated oil companies have paid fines totaling more than 500 billion rubles. During the first and second waves of antitrust investigations in the fuel and energy industry more than 250 cases were opened.

According to Golomolzin, the fines and penalties that are levied in the territory of the Russian Federation are commensurate with penalties abroad.

 

 

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