The Russian Federal Antimonopoly Service (FAS) has imposed a Ruble 31.154 million (approx. $895,720) administrative fine on Russian coal producer Sibuglemet for the abuse of its dominant position in the coking coal market.
The fine has been imposed on the basis of the investigation the FAS conducted into violation of article ten of Russian federal antimonopoly law "About the protection of competition" by Sibuglemet.
According to FAS's investigation, during February-August 2008 Sibuglemet maintained monopolistically high prices for coking coal concentrate of sintered grades.