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EU/Russia: Almunia not stalling on Gazprom after all

 |  September 23, 2014

Despite earlier reports that the European Commission had temporarily halted its investigation into alleged anticompetitive behavior by Gazprom, reports say European Commissioner Joaquin Almunia is ready to issue fines.

Reports emerged last week that regulators had decided to press pause on their probe of Russia’s Gazprom, the leading gas supplier to Europe, for abusing its dominant position and blocking rival suppliers from entering the market. The delay was likely due to the ongoing crisis in Ukraine, which has strained political ties throughout the EU and the globe.

But Almunia announced Tuesday that after a two-year investigation, the Commission is ready to issue fines to the company. A statement of objections will be issued to the company, which is facing fines of up to $13.6 billion, reports say.

Almunia did not elaborate on when the statement would be sent.

Full content: Reuters

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