Russia: EU puts Gazprom case on hold amid political tension

The European Commission announced Friday that it has suspended its investigation into Russian gas giant Gazprom due to the ongoing crisis in Ukraine, say reports.

The world’s largest gas producer is under investigation for alleged anticompetitive conduct. Among the accusations includes claims that Gazprom hikes its prices and blocks rival suppliers from competing in the market.

Gazprom provides a quarter of the EU’s gas.

But as Russia’s conflict with Ukraine continues, straining political relationships throughout the EU, the Commission has decided to temporarily halt the case.

”Some work was done but was suspended because of the Ukraine crisis but this investigation will not stop,” Commissioner Joaquin Almunia confirmed at a conference Friday.

The case will be taken over by Almunia’s successor Margrethe Vestager.

Gazprom had reportedly offered some concessions to settle the case, which has been ongoing since September 2012, though the company has been resistant to changing its pricing practices.

Full content: Reuters

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