“Gazprom” has decided to comply with the terms of the European Union not to pay a huge fine
The European Union believed in the promises of “Gazprom” to adhere to competition rules and EU competition law. Russian company seeks to complete a 5-year-old antitrust lawsuit and to avoid a huge fine in the amount of 10% of global turnover.
This was stated by the European Commissioner for competition, Margrethe Vestager, reports Reuters.
“They are working to resolve our concerns and offer a far-sighted decision in accordance with the rules of the EU. We believe that the obligations of “Gazprom” will allow to ensure the free flow of gas in Central and Eastern Europe at competitive prices,” said Vestager.
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The Commissioner is waiting on response from eight countries in Central and Eastern Europe, who suspected Gazprom of excessive pricing and exclusion of competitors in the region.
For the avoidance of penalty, “Gazprom” has agreed to change the position of revision of prices in long term contracts and conditions related to the pipeline infrastructure. Under the agreement, according to the European regulator, Gazprom refuses to conditions in supply contracts to wholesalers and some customers in the industry, which prohibit export gas to other countries.
Meanwhile, the court confirmed the compulsory collecting with “Gazprom” 172 billion hryvnia in favor of Ukraine.