Silvinit sues Russia's anti-trust agency over pricing

10 July 2007 10:15  [Source: ICIS news]

MOSCOW (ICIS news)--Russia's potash producer OAO Silvinit has filed a suit at the Moscow Arbitration Court to contest a Federal Antimonopoly Service (FAS) ruling that it had to drop its prices, the company said in a statement on Tuesday.

Silvinit claimed that the FAS illegally ordered it in May to cut its domestic price to roubles (Rb) 2,100/tonne ($82/€60), while another potash producer, Uralkali, was allowed to sell potash at a higher price, Rb2,950/tonne.

The FAS also ordered Silvinit to pay Rb62m ($2.4m/€1.8m) in fines.

Silvinit, based in Solikamsk in the Perm region of the Urals, controls 40% of the Russian potash market and exports roughly 80% of its output.

($1=€0.73/$1=Rb25)


By: Sergei Blagov
+44 20 8652 3214



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