LUKOIL to Challenge Competition Committee’s Price Manipulation Ruling
LUKOIL Overseas Supply and Trading Ltd. to Appeal Decision by Competition Committee
LUKOIL Overseas Supply and Trading Ltd. has announced their plans to appeal the decision made by the Competition Promotion and Consumer Protection Committee in mid-July, the company’s press service has confirmed.
In a statement to Kun.uz, the company expressed their disagreement with the Committee’s arguments and conclusions, citing contradictions with the antimonopoly legislation of the Republic of Uzbekistan. The decision made by the Committee, which found LUKOIL guilty of price manipulation, will be appealed through the established legal procedure.
The Committee’s special commission determined that LUKOIL had violated Uzbekistan’s Law “On Competition” and the Cabinet of Ministers’ provision regarding the sale of highly liquid and/or monopoly goods in exchange trading.
LUKOIL Overseas Supply and Trading Ltd. is taking steps to challenge the Committee’s decision and defend their position in accordance with the law.
