Tashkent, Uzbekistan (UzDaily.com) -- A case has been launched in Uzbekistan against Lukoil Overseas Supply and Trading Ltd on suspicion of price manipulation regarding technical sulfur.

The Committee for Competition Development and Consumer Rights Protection of Uzbekistan stated that it identified signs of price manipulation on technical sulfur by Lukoil Overseas Supply and Trading Ltd. These manipulations occurred during the product’s sale through exchange trading, including improper representation of product volumes at auctions, leading to an increase in prices for the said product.

Prices for technical sulfur on exchange markets increased on average by 10-50%.

The case has been initiated based on violations of Uzbekistan’s competition legislation.

The case will be handled according to established procedures.

Further information will be provided after a decision on the case is made, noted the committee.