President Promises to Imprison Monopolists for Criminal Conspiracy against Competitors

Starting today, stricter sanctions are applied against monopolists and those who "put a spoke in the wheel" of competition. In accordance with the amendments to the Criminal Code, approved by the Azerbaijani President, the text of Article 199.1 "monopolistic activities and restriction of competition" reads as follows: "with respect to business entities having monopolistic positions for events (including cartels) that restrict and impede competition, a fine of 2 times the amount of the loss (profit) as a result of criminal actions will be applied." The heads of the monopolist may be applied more stringent sanctions in the form of deprivation of the right to occupy a position of responsibility and engage in activities within 2 years, and as a maximum - imprisonment of up to 3 years.

By the amendment to Paragraph 2 of Article 199, the above-mentioned illegal actions committed repeatedly, by an organized criminal group, with the assumption of abuse of their official powers, the application of large-scale damage or obtaining large profits, is punishable by imprisonment from 3 to 7 years, deprivation of the right to hold certain positions and engage in certain activities for 3 years and a fine of 3 times the amount of the loss (profit) as a result of the criminal actions.

With more aggravating circumstances of the crime (the use of violence or threat of violence, destruction or damage of property or a threat of destruction or damage), a penalty of imprisonment from 7 to 12 years will be applied, with a fine of four times the size of the loss (profit) in result of the criminal actions. --17D-