MOSCOW, December 28 - RAPSI, Natalia Belova. A court has approved a settlement between a subsidiary of RUSAL, the worlds largest aluminum producer, and the antimonopoly watchdog in connection with price manipulation in the wholesale energy market, the Russian Legal Information Agency (RAPSI/ reported on Wednesday.

The Moscow Commercial Court has terminated proceedings in the lawsuit filed by RUSAL Krasnoyarsk Aluminium Smelter challenging the watchdogs decision. The aluminum smelter withdrew its lawsuit and acknowledged several violations of the antitrust laws.

The antimonopoly service decided in March that RUSAL's subsidiaries had manipulated prices in the wholesale electricity market.

The watchdog ruled that RUSAL abused its dominant position in the wholesale energy market and had stifled competition.

RUSAL is one of the leaders in the global aluminum industry, accounting for 10% of global aluminum production.