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Azerbaijan shares data on volume of financial sanctions in 2022

Economy Materials 31 January 2023 12:00 (UTC +04:00)
Azerbaijan shares data on volume of financial sanctions in 2022
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, January 31. As part of the control measures in the field of antimonopoly legislation and unfair competition in Azerbaijan, a financial sanction in the amount of 1.6 million manat ($941,100) was imposed against Azercell Telekom LLC, said the Head of Azerbaijan's State Service for Antimonopoly Control and Supervision of the Consumer Market under the Ministry of Economy Mammad Abbasbeyli, Trend reports.

He made the remark during the press conference dedicated to the results of 2022.

Abbasbeyli also noted that it was instructed to eliminate the violations.

"In addition, Araz Supermarket LLC is ordered to prevent cases of unfair competition, that is, illegal (inaccurate) advertising, and a financial sanction of 2.5 million manat ($1.4 million) has been imposed on the company," he said.

Abbasbeyli added that financial sanctions in the amount of more than 6.4 million manat ($3.7 million) have been imposed in general.

The number of initiated cases on antimonopoly issues and cases of unfair competition tripled in Azerbaijan in 2022, and the number of completed cases increased 2.2 times compared to 2021. In general, 48 cases were completed in 2022, while in 2021 there were 22 such cases, and in 2020 – 6.

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