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EU: Gazprom antitrust probe threatens EU, Russia ties

By  |  August 27, 2013

As Russia’s president Vladimir Putin ups his criticism of a European Commission look into gas giant Gazprom, the EU is reportedly threatening to issue a formal antitrust complaint to the company that supplies about a quarter of the EU’s natural gas supply.

Anonymous sources told reporters that the EU may send an official complaint against the company for abuse of dominance if Russia and the EU cannot come to terms with a settlement. OAO Gazprom is a state-owned monopoly. Three sources spoke to reporters regarding the issue, asking not to be named considering the confidentiality of the case.

According to reports, the gas company is alleged to have fixed prices throughout central and eastern Europe for gas products; sources say the company blocked inter-country trading of its gas prices, among other charges. The Commission began its probe of the firm nearly a year ago.

Putin has spoken out publically against the investigation, who stated there would be “losses on both sides” if the two cannot resolve the dispute. Experts say the case threatens major tension between the EU and Russia.

Full Content: Bloomberg

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