(Read the full article on TASS.RU)

The Federal Antimonopoly Service (FAS) of Russia recognized NLMK, MMK and Severstal as violating antitrust laws – the relevant decisions were made today by the department’s commission on cases against companies on the grounds of establishing and maintaining a monopoly high price for hot-rolled flat steel. This is stated in the message of the FAS.

“On February 10, 2022, after a comprehensive study of the circumstances of the cases and evidence, the commissions of the Federal Antimonopoly Service completed consideration of cases of violation of antimonopoly law against PJSC Magnitogorsk Iron and Steel Works, PJSC Severstal, PJSC Novolipetsk Iron and Steel Works,” the report says. – “Severstal, MMK and NLMK have been ordered to stop abusing their dominant position and take actions aimed at ensuring competition. Based on the materials of antimonopoly cases, cases of administrative violations will be initiated and fines will be calculated for each company.”

Companies disagreed.

NLMK, MMK and Severstal do not agree with the conclusions of the FAS. According to the companies whose applications were received by TASS, the service “created a dangerous precedent” by its decision.

“The dangerous precedent set by the Federal Antimonopoly Service of the Russian Federation actually jeopardizes the functioning of the normal mechanisms of a market economy in Russia and discriminates against domestic producers, which are global players, in relation to international competitors. We intend to appeal the decision of the Federal Antimonopoly Service in court,” Severstal said in a statement. “.