Uralkali Fined 104 Million Rubles by Russia’s Antitrust Agency

Russia’s Federal Anti-Monopoly Service said it fined OAO Uralkali, the country’s second-largest potash producer, 104 million rubles ($3.34 million) for acting in collusion with domestic rivals to raise prices last year.

Uralkali, OAO Silvinit and OOO Mineral Trading raised potash prices for domestic producers of complex fertilizers to 4,750 rubles a ton from the second half of last year, the service said in a statement on its website.

Uralkali plans to appeal the fine in court, spokeswoman Larissa Belyaeva said by phone in Moscow.

To contact the reporters on this story: Yuriy Humber in Moscow at yhumber@bloomberg.net

To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.