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EU: Commission seeks to close Gazprom case on May 24

 |  May 15, 2018

The European Commission plans to close the controversial antitrust case against Gazprom on May 24.

The Russian energy giant is expected to escape without a fine on charges that it abused its market power in Central and Eastern Europe by overcharging and banning the resale of gas. However, the Kremlin-backed firm could face fines in the future if it fails to comply with a set a commitments it agreed to as a part of a settlement deal.

Reuters was the first to report on April 3 that Gazprom, which supplies a third of the EU’s gas, and the EU competition enforcer would reach a deal, staving off a fine of as much as 10% of the company’s global turnover.

EU-Russia relations have been frosty since Moscow’s annexation of Ukraine’s Crimea region in 2014, sinking further over a nerve toxin attack against a former Russian spy in England in March that the British government blamed on Moscow.

Full Content: EurActiv

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