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Antitrust watchdog to increase fines for abuse of market dominance

14:14 12/04/2012

MOSCOW, April 12 - RAPSI. The average fine against a company for abusing its market dominance will be doubled in 2012, Federal Antimonopoly Service head Igor Artemyev said on Thursday.

"I would like all the businessmen and lawyers present to pay attention to the following -- the fines to be imposed by the service in 2012 will be at least twice as much as before," he said at a roundtable discussion on the development of competition law.

He noted that the changes will above all concern punishments for discrimination in providing access to infrastructural facilities, in particular power grids.

Artemyev noted that early this year his service adopted a warning concept as part of the third set of legislative amendments. If a company fails to react to such a warning and continues to abuse its market dominance, the service will fine the company as earlier.

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Antitrust watchdog to increase fines for abuse of market dominance

14:14 12/04/2012 The average fine against a company for abusing its market dominance will be doubled in 2012.
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