Russian State Duma toughening limitations on monopolist activities on Russian commodity markets

At its Wednesday plenary session the State Duma, the lower chamber of the Russian parliament, adopted in the third reading amendments to the law "On Competition and Limitations of Monopolist Activities on Commodity Markets".

With 226 votes necessary, the amendments were adopted by 378, a RIA Novosti correspondent reports.

The law aims at ensuring the unity of the economic space and free transition of goods, at supporting competition and economic activities on Russian territory, as well as at creating conditions for commodity markets' efficient functioning, its initiators pointed out.

The law prohibits economic agents, acting on the market of the same goods, to sign other agreements or carry out coordinated actions that may hamper equal competition and infringe on the interests of other economic agents.

It also specifies the powers of the federal anti-monopolist body, which is expected to carry out the state policy on developing trademarks and competition, to conduct state control over the implementation of the anti-monopolist legislation, as well as to prevent and stop monopolist activities, unfair competition and other steps limiting competition.

The law has been submitted to the parliament's upper house, the Council of the Federation, for consideration.