Union Company, which enjoys its monopoly right on the market, set too high tariffs
to money transfers, and Ukrainian citizens, who are working abroad and transfer
their money to Ukraine, especially suffer from this situation, Antimonopoly
Committee Head Oleksi Kostusev
said a press conference on Tuesday.
a tariff for transfer of money from Spain makes up 17 percent, from Portugal is 16.5 percent and 21 percent of
the Czech Republic. Having no alternative ways, the
Ukrainian labor migrants have to pay considerable
funds for money transfers.
aim of protecting compatriots, the Antimonopoly Committee started investigation
into this case on May 24, 2004. As a result of this investigation, the Company
reduced tariffs on money transfers from Russia from 15 to six percent. Taking into
consideration that over 3 M. Ukrainians are working in Russia, their families
will receive additionally about 30 M. USD.
Antimonopoly Committee believes that a three- percent tariff, set by other
market participants, will not be unprofitable for the Western Union under the existing volume of money
transfers. The Antimonopoly Committee is waiting that the Western Union will reduce tariffs on transfers
from overseas countries to an economically substantiated rate,
otherwise penalties will be applied to this Company.