RIA Novosti reported that Russia's antimonopoly regulator launched suits on Tuesday against the country's largest crude producers - TNK-BP, Gazprom Neft, LUKoil and Rosneft over fuel market violations in late 2008.

Mr Igor Artemyev who heads the Federal Antimonopoly Service said "Today we launched suits against four companies...Throughout the fourth quarter of 2008 they did not reduce retail fuel prices, while oil prices were falling. He said that the four companies also hiked wholesale prices in January 2009. He also called the oil companies' behavior a "challenge" to the Russian government.

He added that "The challenge was issued, and we accepted it."

(Sourced from RIA Novosti)