Ukraine forbids InGOK to up iron ore prices

On March 1, 2007, the Antimonopoly Committee of Ukraine (AMCU) recommended to Inguletskiy Iron Ore Dressing Plant (InGOK), which belongs to the Russian businessmen Vladim Novitksy, and also to several trading companies which sell InGok's products in the Ukrainian domestic market, that they should not limit market competition and should not raise iron ore concentrate prices without valid economic reasons. In November 2006, AMCU initiated a special investigation into unreasonable price rises in the Ukrainian iron ore market during the May 2006-October 2006 period, based on a complaint filed by Ilyich and Zaporozhstal. Since both Ilyich and Zaporozhstal assured the AMCU that the conflict with InGOK had been resolved, the commission decided not to impose sanctions.