MOSCOW, April 7 (RAPSI) – The State Duma has passed a bill introducing administrative liability for cartel form of collusion in the third and final reading, the statement of the lower house of parliament reads on Friday.

According to Russian legislation, signing competition-restrictive agreements, concerted actions towards restriction of competition and coordination of economic activity may result in administrative penalties. However, different forms of collusion result in different levels of danger to society, which is why authors of the bill propose to specify liability further.

Currently, officials involved in collusion may face fines ranging from 20,000 to 50,000 rubles ($357 - $892) or disqualification for one to three years. Legal entities are to pay a fine ranging from 0.01% to 0.15% of the amount of the offender's income from the sale of goods, services or expenses for the purchase of goods, but no less than 100,000 rubles ($1,785).

The bill establishes the largest penalty for cartel agreements. Officials are to face fines ranging from 40,000 to 50,000 rubles ($714 - $892) or disqualification for one to three years. Legal entities are to pay a fine ranging from 0.03% to 0.15% of the amount of the offender's income from the sale of goods, services or expenses for the purchase of goods, but no less than 100,000 rubles ($1,785).

According to the bill, punishment for “vertical” agreements is to be softened. Officials face fines ranging from 15,000 to 30,000 rubles ($267 - $535) or disqualification for one year. Companies are to pay a fine ranging from 0.01% to 0.05% of the amount of the offender's income from the sale of goods, services or expenses for the purchase of goods, but no less than 100,000 rubles ($1,785).