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Russia's monopoly watchdog reveals extend of total cartel damage

Staff Writer |
The total cartel damage in Russia is estimated at 1.5-2% of GDP, according to the files released by the country’s Federal Antimonopoly Service (FAS).

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"The total cartel damage 1.5% to 2% of GDP," TASS cited the regulator as saying.

According to FAS’ deputy head Andrei Tsyganov, "tender collusion accounts for 85% of cartels."

"This is a huge problem, which takes billions of rubles from the Russian budget and Russian consumers," he said at the regulator’s meeting.


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