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

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