Russian State Duma Passed in the First Reading the Fifth Antimonopoly Package

Digital Markets
Russian State Duma Passed in the First Reading the Fifth Antimonopoly Package
Photo: duma.gov.ru 11.11.2022 149

The draft law is aimed at curbing the abuse of a dominant position by owners of digital platforms.

According to the document*, the ban applies to the abuse of a dominant position by marketplaces and aggregators if they have a significant impact on related markets and their revenue for the last calendar year exceeds 2 billion rubles.

It also establishes a new condition for antimonopoly control over economic concentration transactions on commodity markets. If the current version of the draft law is adopted, transactions exceeding 7 billion rubles will be subject to approval by the FAS of Russia.

The adoption of the bill will make it possible to establish legal mechanisms to counteract "digital cartels" and protect consumers from abuse of market power by digital platforms.

If adopted, the new antitrust legislation will take effect on March 1, 2023.

*Draft Federal Law No. 160280-8 On Amendments to the Federal Law "On Protection of Competition" (as regards improvement of antimonopoly regulation of "digital" markets)

Source: FAS

digital markets  Russia 

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