OREANDA-NEWS.  February 21, 2014. The Federal Antimonopoly Service (FAS Russia) warned the President of the “Union of Oil and Gas Producers of Russia”, Gennady Shmal, and the General Director of the “National Energy Security Fund” Ltd., Konstantin Simonov, not to exercise actions that can lead to violating the antimonopoly law.

Recently the Federal Antimonopoly Service has had to issue warnings to heads of business associations more often, due to the incidents of publishing information in the media about growth of gasoline prices. Such forecasts are not justified and can provoke panic demand for oil products, resulting in an unreasonable price increase.

Earlier Gennady Shmal and Konstantin Simonov made statements in the media forecasting that the rate of growth of the prices for oil products would outrun the inflation due to an increased tax on mineral production.

FAS warned the President of the “Union of Oil and Gas Producers of Russia” that such statements could mean coordination of pricing policy of the Union members. It is important to note that in the past Gennady Shmal already received a warning from FAS.

“FAS monitors prices for oil products daily. If signs of an unreasonable growth of prices are revealed, the Antimonopoly Service shall undertake measures of antimonopoly regulation”, pointed out Deputy Head of FAS Department for Fuel-and-Energy Complex, Daria Savina.

Reference:
Article 25.7 of No.135-FZ Federal Law “On Protection of Competition” prohibits actions that can lead to violating the antimonopoly law.

Part 5 Article 11 No.135-FZ Federal Law “On Protection of Competition” prohibits physical persons, commercial organizations and non-commercial organizations to coordinate economic activity of economic entities if such coordination leads to any of the consequences specified in Parts 1 - 3 Article 11 that cannot be allowed under Articles 12 and 13 of No.135-FZ Federal Law or that are not provided for by the federal laws.