Russian FAS Accuses Three Oil Traders of Collusion in Exchange Deals

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The Federal Antimonopoly Service (FAS) has uncovered evidence of collusion among three oil traders during trading sessions, according to a press release from the FAS.

"The conclusion of the anticompetitive agreement is aimed at obtaining income on a particularly large scale through regular resale of gasoline and diesel fuel at inflated prices," the service elaborated.

Based on these findings, the FAS has initiated a case for violation of the competition protection law. Additionally, the agency has instructed its regional offices to monitor compliance with antitrust legislation in fuel sales, including from oil depots, oil storage facilities, and gas stations, as well as to strengthen oversight of fuel supplies to farmers.