Eurasian Economic Committee has fined two Russian companies for 217 million rubles.
NLMK and VIZ-Stal LLC were found guilty of taking actions affecting the competition on the border markets of two or more EAEU countries.
From January 1, 2005 till June 30, 2016 the companies, being a sole market participant in Belarus, Kazakhstan and Russia, had a domineering position on the market of grain-oriented electric steel with the share of 99.9%.
When selling these steel grades the companies increased prices by up to 23%. (Ukrainian metal)