The Federal Anti-Monopoly Service is not going to enter into settlement agreements with the “big four” oil companies, which are accused of price fixing, the watchdog’s chief, Igor Artemyev, said Friday, adding, “unless there is a special request from the prime minister [Vladimir Putin].” There are 26 billion rubles ($839 million) at stake, and TNK-BP is among the defendants.
The Federal Anti-Monopoly Service stands to recover 26.1 billion rubles in fines from LUKoil, Rosneft, Gazprom Neft and TNK-BP. This is the amount that officials invoiced the companies for collectively supporting a monopoly of high prices for oil products on the wholesale market in 2008 and 2009. The oil companies were counting on being able to challenge the sanctions in court, but on May 25 the presidium of the Supreme Arbitration Court made a precedent-setting decision in the FAS’s favor on a lawsuit with TNK-BP for 1.1 billion rubles.