A PYMNTS Company

Russia: Antitrust watchdog says PTP sets monopolistically high prices

 |  November 13, 2016

Federal Antimonopoly Service of Russia acknowledged Primorsky Commercial Port as violating Clause 1 Part 1 Article 10 of the Federal Law “On Protection of Competition” through fixing and maintaining monopolistically high prices for oil transshipment services. FAS says it will impose an administrative fine on the company and will order it to stop violating the antimonopoly legislation.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    In June 2016 FAS opened cases upon signs of violating the antimonopoly law against 9 companies, rendering freight loading, unloading and storage in the seaports of the Russian Federation. FAS suspected the companies in fixing monopolistically high prices for cargo transshipment services. PTP case is the first in the list of nine cases. The decision and the order will be ready within 10 days.

    Full Content: Port News

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.