Russia: Signed amendments to the Code of the Russian Federation on Administrative Offenses (Federal Law No. 426-FZ/ Bill No. 160278-8)

On 4 August 2023, the President of Russia signed into law amendments to the Code of the Russian Federation on Administrative Offenses (Bill No. 160278-8/ Federal Law No. 426-FZ). The amendments aim to provide further clarity on the administrative penalties for anticompetitive agreements in digital commodity markets. Specifically, the use of price algorithms will be considered an aggravating circumstance when determining the liability of the involved entities. The entities found guilty of anticompetitive practices utilising price algorithms will face more severe penalties. Furthermore, the Bill proposes to implement a double amount of the administrative fine for repeated failure to comply with the remedies imposed by the antimonopoly body. The Bill enters into force on 1 September 2023.