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Anti-Russian sanctions

Finnish court fines Valio for 70 mln euros for lowering milk prices

Valio is the largest supplier of dairy products in Finland

© Kylie Townsend/Getty Images

HELSINKI, December 29. /TASS/. Finland’s Supreme Administrative Court has ruled that the Finnish dairy company Valio should pay a 70 mln euros fine for abusing its dominant market position in the local fresh milk market, the company’s press service reported on Thursday.

Read also

Finnish dairy producer Valio net sales in Russia drop over 36% due to food embargo

"On December 29, the court took the decision regarding milk prices in Finland in 2010-2012.The court found that Valio abused its position on the market at that time and sold milk at a very low price. The court obliged the company to pay the fine of 70 mln euros," according to the statement.

A spokesman with the company noted that now Valio’s competitors may claim compensations through the court and this process may take years. The spokesman also said that Valio’s management is disappointed with the verdict but added that the verdict is final.

Valio is the largest supplier of dairy products in Finland and the main Finnish exporter of these products to Russia.

In 2013, Valio’s exports to Russia exceeded 242 mln euros, which accounted for more than 85% of the total exports of Finland, which later came under Russian countersanctions. These countermeasures resulted in big financial losses of the Finnish company making it cut personnel several times.

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Sanctions vs. Russia

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Putin signs law on holding World Friendship Games

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French president says creating Israeli-type air defense network for Ukraine impossible

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Russia’s defense chief inspects production of tanks, flamethrowers at Siberian enterprise

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Press review: Biden backs aid to Israel, Ukraine and Russia assets giving West legal fits

Top stories from the Russian press on Friday, April 19th

G7 leaders to decide on Russian assets use — Italian Deputy PM

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Switzerland does not suit Russia for negotiations on Ukraine — Lavrov

The Foreign Minister pointed to the fact that Switzerland is on board with all Western sanctions

US House passes procedural vote on Ukraine aid bill

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Security guarantees on Ukraine did not apply to Crimea, Donbass — Lavrov

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Unidentified man attempts suicide outside courthouse where Trump trial is underway

The man set himself on fire

US-led coalition’s aircraft violate Syrian airspace 13 times in past day

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Iran suspends flights above several cities amid reports of air attack — IRNA

Fox News said the Jewish state delivered a limited strike on Iran

US 'not forgetting' to help itself with aid to Ukraine — Kremlin

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Russia has significant amount of West’s funds in case of confiscation of its assets

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Two pilots of jet that crashed in southern Russia hospitalized

The plane crashed in a field in the Krasnogvardeysky district of southern Russia’s Stavropol Region

US, UK refuse to discuss document about Israel’s strike on Syria — Russian mission to UN

"The United States and the United Kingdom were reluctant to even discuss it, citing lack of unified approach to the incident during the session," Dmitry Polyansky said

Israel may have used banned white phosphorus munitions while shelling Lebanon — TV

On Wednesday night, the Israel Defense Forces press office reported that Israeli fighter jets struck "significant Hezbollah terrorist infrastructure used by the terrorist organization’s aerial defense system" in Lebanon

Russia delivers 34 strikes on Ukrainian military infrastructure over week — top brass

The Ukrainian army lost more than 3,550 troops, four tanks and five armored combat vehicles in battles with Russian forces in the Donetsk area over the past week, the ministry reported

Lavrov views situation in Middle East as 'very bad'

According to the top Russian diplomat, the unresolved Palestinian problem fuels the issues that the Middle East is facing

Lavrov speaks of West’s agony, Russia’s approach to any future talks with Kiev

The Russian foreign minister also described Armenia and Russia as more than formal allies

Russian forces destroy Ukrainian army’s aircraft park near Nikolayev — defense ministry

"Big fuel depots in Konstantinovka, Nikolayev region, Slavut, Rovno region, and Ternopol were hit by high-precision air-based missiles," he said

BRICS looking at creating common digital payment platform

Russian Deputy Foreign Minister Sergey Ryabkov said that BRICS nations have already established a special channel for information exchange between their central banks

Russia knows French military instructors working in Ukraine — Lavrov

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Pipeline explodes in Kharkov Region

The exact location of the damaged pipeline or the causes of the incident is not reported

Russia not to go for settlement on Ukraine based on 'Zelensky formula' — Lavrov

The top Russian diplomat referred to a swindling trick used by a thimblerigger who puts a small round object, such as a ball or pea, under one of three thimbles or cups and asks the player to guess under which the object is, while unfairly manipulating this object

Indonesia cancels forty flights due to volcano eruption — Internet portal

The Mount Ruang volcano erupted five times on April 17, ejecting an ash column to the height of about three kilometers during its strongest eruption