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Putin urges Russia lawmakers to approve stricter antitrust measures

By Bernard Hibbitts (editor) and University of Pittsburgh School of Law students.

[JURIST] Russian Prime Minister Vladimir Putin urged lawmakers Tuesday to pass an antitrust bill that would impose criminal penalties for unfair competition. The Federal Anti-Monopoly Service said that the current law is too vague and prevents criminal punishment. The draft bill seeks to amend current legislation to clarify the definition of unfair competition, establish administrative liability for state and local authorities, and make other antitrust provisions and clarifications. The proposed legislation would also modify Article 178 of the Criminal Code of the Russian Federation to address criminal liability concerns. The bill was unanimously approved by the Federation Council last week and was previously approved in May by the Duma. A second reading of the bill in the Duma, the lower house, is scheduled for Wednesday. Putin told Federation Council members that the bill's progress appeared to be deliberately procrastinated. Antitrust issues have been a concern in Russia in regards to the oil industry. Last year, the Federal Anti-Monopoly Service announced that Russian oil companies Rosneft and LUKoil broke competition laws in the Russian market by fixing monopoly-like prices during the summer of 2008. The government agency previously demanded that several oil companies cut their oil prices, including Rosneft, LUKoil, Gazprom Neft, and TNK-BP. In September, Gazprom Neft and TNK-BP were also found in breach of competition laws.

Full post as published by JURIST - The Paper Chase on July 15, 2009 (boomark / email).