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Federal Antimonopoly Service of the Russian Federation

Russian Version

FAS ISSUED A WARNING TO PRESIDENT OF THE INDEPENDENT FUEL UNION

03-06-2019 | 14:44

Due to his public forecasts of increasing petrol prices

On 29 May 2019, the Federal Antimonopoly Service issued a warning that actions, which may lead to violating the antimonopoly law, are unacceptable.

By such actions FAS mean public statements by President of the Independent Fuel Union formed by independent participants of the fuel market, Pavel Bazhenov about a risk of a spike in petrol prices and that in summer petrol prices can increase at least by 10-13%.

These ideas are outlined in his article “Sharp leap: petrol prices will shoot up in summer” published on the web-site of “Gazeta.ru” JSC on 21 May 2019.

Article 25.7 of the Federal Law “On Protection of Competition” warns to restrain from such statements since such conduct may lead to coordination of economic operations of economic entities.

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