The Federal Antimonopoly Service will hold its first sitting dedicated to the case of Mechel, Evraz Holding and Raspadsky Ugol in the nearest two weeks.
Photo: Alexander Miridonov
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Antimonopoly Service to Sit for Mechel in the Nearest 2 Weeks
The Federal Antimonopoly Service (FAS) will hold its first sitting dedicated to the case of Mechel, Evraz Holding and Raspadsky Ugol in the nearest two weeks, RIA Novosti reported with reference to FAS Deputy Chief Andrei Tsarikovsky. The companies are accused of abusing the dominant standing on the market of coking coal.
“I think that, given the situation around Mechel, Evraz Holding and Raspadsky Ugol, FAS will endeavor to speed up the investigation. Theoretically, the first meeting is slated for August 26, but we will attempt to hold the first sitting of the commission during two weeks,” Tsarikovsky said.
Russia’s Prime Minister Vladimir Putin lashed out at the pricing policy of Mechel July 24, specifying that it was exporting the raw at prices half as much as domestic ones. Putin urged not only the rather peaceful Antimonopoly Service but also the Investigating Committee of the RF Prosecutor General Office to focus on Mechel.
The actions against Evraz Holding and Raspadsky Ugol were brought in after the checks of the Federal Antimonopoly Service and price monitoring. Together with Mechel, these two companies cover more than 50 percent of the market.
Mechel lost nearly a half of capitalization from July 24 to 28.
“We won’t delay the dates, as we realize that it may affect the market,” Tsarikovsky promised. Asked about potential sanctions against the above three companies, Tsarikovsky said: “It will be hundreds of million rubles for sure.”
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