Russia’s anti-trust agency fines potash producers

18 May 2007 11:12  [Source: ICIS news]

MOSCOW (ICIS news)--Russia’s Federal Antimonopoly Service (FAS) has ordered Russia's major potash producers Uralkali and Silvinit to pay Roubles 189m (€5.42m/$7.31m) in fines, the FAS said in a statement Friday.

 

Uralkali and Silvinit were found in fixing "monopolistically high" potash prices in Russia in 2007. Uralkali was ordered to pay Roubles 127m (€3.64m/$4.91m) and Silvinit some Roubles 62m (€1.78m/$2.4m).

 

Uralkali and Silvinit, both based in Perm region, the Urals, control nearly all of the Russian potash market. The companies have denied any wrongdoing, arguing they exported much of their respective potash output.

 

In January 2007, the FAS opened an anti-trust probe to investigate Uralkali and Silvinit, as well as the country's leading petchem manufacturer Nizhnekamskneftekhim, and fertiliser company Apatit.

 

($1=Rb25.8)

(€1=Rb34.87)

By: Sergei Blagov
+44 20 8652 3214

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