Russian energy giants hit with 68m euro anti-trust fines
(MOSCOW) - Russian anti-trust regulators have slapped multi-million-euro fines on two energy companies for "abusing their dominant position" in the country's gasoline and diesel markets, the RIA-Novosti news agency reported Monday.
The British-Russian TNK-BP joint venture was fined 31.2 million euros (40 million dollars) by the Federal Antimonopoly Service (FAS), while Gazprom subsidiary Gazpromneft was fined 36.9 million euros.
"TNK-BP especially abused its dominant position in the gasoline market," the FAS said in a statement, adding that Gazpromneft had unfairly exploited its position in the diesel and fuel markets.
The two companies say they will appeal the fines.
Gazpromneft is the gasoline subsidiary of oil giant Gazprom, while TNK-BP is the third-largest producer of crude oil in Russia, owned jointly by BP and three Russian billionaires.
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