“Lukoil” must return unjustified funds - Competition Committee

Earlier, it was reported that the actions of "Lukoil Overseas Supply and Trading Ltd" in the sale of technical sulfur products through stock trading, including manipulative practices such as placing inconsistent product volumes in stock trading, led to an increase in product prices, prompting a case against the company.

A decision was made to return the funds unjustly received by the company. This was reported by the Committee for the Development of Competition and Protection of Consumer Rights.

It is noted that in connection with this case, the special commission of the committee issued a decision to "Lukoil Overseas Supply and Trading Ltd" based on the law "On Competition" and the decision of the Cabinet of Ministers dated March 18, 2020, No. 170 "Sale of Highly Liquid and (or) Monopoly-Type Products in Stock Trading" "On the Procedure" to return the unjustly received funds due to the violation of the regulation's requirements. Additionally, mandatory instruction was given to eliminate the violation of the law and to prevent its recurrence in the future.

"The party dissatisfied with this decision of the special commission has the right to appeal to the Appeals Council of the committee or to the court," the message states.