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 Russia’s Gazprom faces $9.3 billion fine - AFP

The European Commission is preparing to go on offensive against the Russian gas giant Gazprom, launching a procedure Wednesday to impede competition.

A source close with the matter told AFP, Censor.NET reports citing Channel 5.

According to the agency, the Commission suspects that the Russian giant has hampered the free flow of gas between European States, has prevented the diversification of gas distribution and has imposed price unfair to its customers by linking the price of gas and oil. The European Commission started a formal investigation of Gazprom's business practices in some eastern and southern European countries in September 2012.

Read also: EU to file official antitrust charges against Gazprom April 22

If the Commission concludes that there is an infringement, it can impose a fine of up to 10% of the global turnover of the target company. Sales of Gazprom amounted to 5.249 billion rubles (€ 93 billion during Monday) in 2013. The financial results of the Russian public company for 2014 have not yet been published.

The decision must be formalized Wednesday at the weekly meeting of European Commissioners.

It should be reminded that Gazprom recently threatened to increase gas prices for the EU. According to the head of the company, if the authorities of the European Union achieve the establishment of a single price for Russian gas for the European customers of Gazprom, the price will be established at a higher rate. It sounded like a reaction to the European Commission's plan to create an energy union.

Read also: Gazprom CEO sees serious risks in the EU's new model of energy security and threatens to make a pause in the supplies

 
 
 
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