Investigation was launched against “Lukoil” in Uzbekistan
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04 July 12526
Evidence of manipulative practices by "Lukoil Overseas Supply and Trading Ltd" in the sale of technical sulfur products through exchange trading was discovered. These practices included placing inconsistent product volumes in exchange trading, which caused product prices to rise. This was reported by the Committee for the Development of Competition and Protection of Consumer Rights.
As a result of these actions, the prices of technical sulfur products on the stock market increased by 10% to 50%.
“Due to this, the Competition Committee has initiated a case against "Lukoil Overseas Supply and Trading Ltd" for allegedly violating the Law "On Competition" of the Republic of Uzbekistan and the Cabinet of Ministers' Decree No. 170, dated March 18, 2020,” the report stated.
The case will be reviewed following established procedures, and further information will be provided once a decision has been made.
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