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The EEC may receive the right to investigate antitrust violations by companies from third countries

30 September 2024 10:43 235 Print

It is proposed that the Eurasian Economic Commission be given the authority to investigate antitrust violations committed in transnational markets by residents of third countries.

According to Maxim Ermolovich , a member of the Board on Competition and Antimonopoly Regulation of the EEC , the idea of vesting the commission with the function of coordinator in the interaction of national antimonopoly authorities to suppress violations of antimonopoly legislation by residents of third countries is to scale up such a practice in relation to specific non-resident violators in order to hold them accountable.

He also noted that violations in cross-border markets are not uncommon, and the initiators of these scenarios are often foreign companies developing their distribution networks in union markets. Sometimes, in order to avoid responsibility, they choose the principle of extraterritorial residency, thus avoiding the attention of authorized and controlling government agencies.

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