After imposing hefty fines on the country's four largest oil companies for setting products prices artificially high, Russian competition authorities have called a temporary halt to their campaign and agreed a formula for defining a fair market price. At a meeting Wednesday between the Federal Antimonopoly Service (FAS) and representatives of firms including state-controlled Rosneft, top independent Lukoil, Russian-UK joint venture TNK-BP and Gazprom Neft, the sides agreed to use international product prices as a guide, taking account of Russian customs taxes and delivery costs.
展开▼
