Antimonopoly policy DMA
In 2016, the Management Committee of PJSC LUKOIL adopted the Company’s Antimonopoly Policy , which was drafted in accordance with best business practices and the recommendations put forward by the Russian Federal Antimonopoly Service. The document establishes the main principles of competitive business conduct in target markets and stipulates the rules of personnel conduct to prevent violations of antimonopoly laws. Local regulations and compliance procedures are in place across Russian LUKOIL Group entities.
The Russian Federal Antimonopoly Service, its regional branches and commercial courts of various jurisdiction considered 42 cases of antimonopoly violation against LUKOIL Group entities in 2015, and 111 cases in 2016. Of these, 15 cases were concluded in 2015 and 16 cases in 2016. For violations of the antimonopoly laws, Russian LUKOIL Group entities received administrative fines totaling 14.3 million RUB in 2015, and 0.7 million RUB in 2016. G4-SO7
The Company has drawn up and continually improves upon a set of measures to prevent and eliminate antimonopoly violations by providing personnel training, holding seminars, conferences and roundtable discussions on antimonopoly regulations, etc.