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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI