Rosneft pays over 1bn RUR to state budget

29 April 2011 (17:52)

UrBC, Moscow, April 28, 2011. The oil and gas company Rosneft transferred 1.5bn RUR to the state budget recently, which was actually an administrative fine.

Russia’s Federal Antimonopoly Service announced in 2008 that the company had violated Article 10 (paragraph 1) of the Competition Protection Law. The agency also imposed a fine upon Rosneft in accordance with Article 14.31 of the Russian Federation Administrative Offence Code (which states a fine could come to anything between 1% and 15% of an offender’s proceeds resulting from the sale of product or service on the market where the violation of the law was committed).

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