OREANDA-NEWS. December 10, 2010. “ТNK-ВР Holding” OJSC transferred to the federal budget 1,170,872,049 Rubles as an administrative fine for violating the antimonopoly law, reported the press-centre of FAS Russia.

On 29th October 2010, when the 8th Arbitration Appeal Court was considering the appeals of FAS Russia and Tyumen Regional Prosecutor’s Office, “ТNK-ВР Holding” OJSC withdrew its claim in the part of invalidating the decision and determination of the Antimonopoly Service that the company had abused its dominance on the wholesale market of oil products.

Also the court granted a petition of “ТNK-ВР Holding” OJSC to reduce the sanction to 1% of the company’s income on the wholesale markets of motor petrol and aviation kerosene in the Russian Federation in 2009.

“ТNК-ВР” is the first of the four oil companies that paid the fines for abusing dominance on the market of oil products in 2008 – 2009 in full to the federal budget and admitted the fact of violating the antimonopoly law on fuel markets. FAS Russia hopes that other companies that committed violations on the markets of oil products will follow the positive example of ТNК-ВР”, states the Head of FAS Russia Igor Artemyev.

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In autumn 2008 the Antimonopoly Service accused “Gazprom Neft”, “Rosneft”, “LUKOIL” and “ТNК-ВР” in fixing monopolistically high prices for motor petrol, diesel fuel, aviation kerosene and fuel oil. For abusing market dominance “ТNК-ВР” was fined 1.112 billion Rubles. In May 2010 the Supreme Arbitration Court supported FAS Russia on the case initiated against “ТNК-ВР” in 2008, and as a result the company transferred the fine to the federal budget in full.

In 2009 FAS Russia initiated the so-called “second wave of cases” against oil companies upon the facts of unjustified increase of prices for oil products in October 2008 - February 2009. This time the antimonopoly authority imposed higher penalties.