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Russia: Gov’t warns EU against Gazprom oil sanctions

By  |  August 14, 2013

Russia’s Foreign Minister Sergei Lavrov issued a warning to European officials that if the European Commission imposes sanctions against oil giant Gazprom for antitrust violations, the company would face obstacles in EU markets. In an article posted on the Foreign Ministry’s website, Lavrov announced that the oil export monopoly would face “open discrimination” if an antitrust probe, launched last year, results in fines that could reach $14.5 billion, or up to 10 percent of its annual revenue. The EU currently depends on Gazprom for a quarter of its gas.

Full Content: Bloomberg

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