Container Terminal Saint-Petersburg and Federal Antimonopoly Service of Russia sign settlement agreement

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09.07.2018  

Container Terminal Saint-Petersburg and Federal Antimonopoly Service of Russia sign settlement agreement

On 9 July 2018, the 9th Arbitration Court of Appeal approved the settlement agreement between the Federal Antimonopoly Service of Russia (FAS Russia) and ZAO Container Terminal Saint-Petersburg (CTSP, a company of UCL Holding) in a dispute over antitrust violation.

FAS Russia has acknowledged that, commercial policies of CTSP ensure setting of economically justified tariffs for container transshipment services with the tariff growth caused by earlier commercial practices of CTSP applied due to the sharp change in the dollar's exchange rate.

CTSP, in its turn, has presented a plan for a transition to ruble tariffs and undertaken obligations on increasing the share of ruble transactions in the company revenues before the end of 2018.

As part of the settlement agreement, FAS Russia recognized that measures undertaken by CTSP are intended to ensure competition in Big Port St. Petersburg”.

   

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