Russian prosecutor general orders fight against ‘unjustified’ price rises

By Thomson Reuters Mar 26, 2024 | 7:24 AM

MOSCOW (Reuters) – Russia’s prosecutor general, in a televised meeting on Tuesday, ordered state prosecutors to fight against rising prices for fuel and consumer goods.

“Heads of large trading companies have been warned against unjustified fuel price increases,” Igor Krasnov said in a speech.

“Within the framework of instructions given earlier, supervisory means should be used to identify and suppress price collusion and other abuses related to the overvaluation of food prices and other socially significant markets.”

Inflation is running at nearly twice the central bank’s 4% target, and pressure on fuel prices has been exacerbated by Ukrainian attacks on Russian oil refineries.

Krasnov did not specify why he thought why price rises required the attention of law enforcers.

(Writing by Felix Light; Editing by Kevin Liffey)