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Customs Union antimonopoly body to be set up in 2 years

This body, he said, will be established by analogy with the Antitrust Commission of the European Union

MOSCOW, July 31 (Itar-Tass) — The single supranational antimonopoly body of the Customs Union of Russia, Kazakhstan and Belarus will be created within 1.5 or 2 years, head of the Russian Federal Antimonopoly Service (FAS) Igor Artemyev told journalists on Tuesday.

“The decision has been made to create in the near future the single supranational body in the sphere of the competition protection in the territory of the Customs Union,” he said.

This body, he said, will be established by analogy with the Antitrust Commission of the European Union.

The creation of a supranational structure does not mean that the FAS will stop its operation. “In this sense, we as a national regulator will not disappear. We will work together with this body, but the main powers will be transferred there, which has been decided today at the political level,” he said.

The head of the antimonopoly authority also explained that the FAS will retain some of the functions of the national regulator, and part of the authority will be transferred to the supranational level.

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