Uralkaliy to pay 103-million-ruble fine
7 June 2010 (09:17)
The Russian Federation Federal Antimonopoly Service (FAS) made OAO Uralkaliy face administrative liability and pay 103.69 million RUR worth of fines.
On December 21, 2009, FAS declared that the company had violated Article 11 (part 1, paragraph 1) of the Federal Competition Protection Act through price-collusion. Namely, OAO Uralkaliy, OOO Mineral Trading, and OAO Sylvinite colluded so as to raise the price of potassium chloride on the Russian market up to 4,750 RUR per ton in the second half of 2009.
On December 21, 2009, FAS declared that the company had violated Article 11 (part 1, paragraph 1) of the Federal Competition Protection Act through price-collusion. Namely, OAO Uralkaliy, OOO Mineral Trading, and OAO Sylvinite colluded so as to raise the price of potassium chloride on the Russian market up to 4,750 RUR per ton in the second half of 2009.
 | Embed to Blog |  | Subscribe to Newsletter |  |
Other materials on the topic::
- Uralkaliy’s potassium chloride output drops 45.3%
- FAS accuses Sylvinite and Uralkaliy of competition offense
- Minn-Chem accuses Uralkaliy and Sylvinite of price collusion
- Uralkaliy and Sylvinite abuse their power to set sky-high potassium chloride prices
- Federal Antimonopoly Service takes legal action against UralKaliy