The Russian Federal Antimonopoly Service (FAS) announced late last week its determination of the amounts of the administrative fines for Yuzhkuzbassugol and Raspadskiy Ugol, coking coal subsidiaries of the Russian mining and steel producing company Evraz Group.
Accordingly, Yuzhkuzbassugol has been fined Ruble 149,142,457.6 (approx. $5.91 million) and Raspadskiy Ugol has been fined Ruble 117,245,642.6 (approx. $4.64 million).
As SteelOrbis previously reported, in early September the FAS found Evraz Group and Raspadskiy Ugol guilty of abusing their dominant position in the Russian coking coal market and of maintaining monopolistically high prices for their products.