Antitrust regulators in Russia have found Apple guilty of coordinating with local retailers on the prices of iPhones sold in the country.

Russia's Federal Antimonopoly Service (FAS) claims that Apple worked with 16 major resellers to set the price at which they were allowed to sell the iPhone 5s, iPhone 5c, iPhone 6, iPhone 6 Plus, iPhone 6s and iPhone 6s Plus.

Apple allegedly monitored the retail prices of its phones at the resellers and would even e-mail them if they found "inappropriate" pricing. The Federal Antimonopoly Service suggested that Apple may have been able to terminate contracts with resellers at any time, thus potentially strong-arming them into pricing compliance.

Andrey Tsarikovsky, Deputy Head of FAS Russia, said that during the course of the investigation, Apple's Russian subsidiary actively cooperated with the FAS, adding that Apple has adopted the necessary measures to eliminate violations of the law and is pursuing a policy to prevent similar violations in the future.

The Financial Times notes that Apple will have around three months to challenge the matter once the full decision is published later this month.

The Cupertino-based company could face a fine of as much as 15 percent of sales from the region.

An Apple spokesperson told the publication that they worked closely with the FAS during their investigation and are glad to put the matter behind them.