How much is the penalty for key traders who do not maintain the mandatory petroleum reserves?

Pursuant to Clause 2 Article 30 of Decree 99/2020/ND-CP (Effective from October 11, 2020) stipulates as follows:

Fines ranging from VND 120,000,000 to VND 140,000,000 shall be imposed on key traders who do not maintain the mandatory petroleum reserve level or maintain the petroleum reserve level lower than the minimum prescribed level.

In addition, according to Article 5 of this Decree: The fines specified in Chapters II, III, and IV of this Decree are applicable to organizations. In cases where the administrative violation is committed by an individual, the fine shall be half of the fine imposed on the organization.

This Article 30 belongs to Chapter III, therefore the above fine is applicable to organizations.

As such, key traders being organizations that do not maintain the mandatory petroleum reserve level shall be fined from VND 120,000,000 to VND 140,000,000.

Respectfully!