14:37 14.05.2019

AMC fines OKKO, WOG and SOCAR networks UAH 77 mln

2 min read
AMC fines OKKO, WOG and SOCAR networks UAH 77 mln

 The Antimonopoly Committee of Ukraine (AMC) has fined the networks of OKKO, WOG and SOCAR some UAH 77 million for anticompetitive concerted actions in the market of light petroleum products, in particular, for similar actions during 2017, head of the committee Yuriy Terentyev said on his Facebook page.

"Today, May 14, 2019, the AMC made the decision on the outcome of the investigation into the case of anticompetitive concerted actions by WOG, OKKO and SOCAR (Part 3 of Article 6 of the law on economic competition protection). The defendants were fined for a total of more than UAH 77 million," he wrote.

Terentyev also added that after the committee had made a decision in November 2016 to impose a fine on a number of oil traders (for a total amount of UAH 204 million), a more intense price competition is observed in the fuel market.

"We no longer have the situation where half of the market holds one artificially overstated price, which was determined by the so called "market leaders." The 2016 decision on three defendants out of six was supported by all parts of the judicial system. Processes on three other defendants, who, by the way, are the defendants in today's decision, still going on," the expert said.

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