EU: Commission seeks to close Gazprom case on May 24

The European Commission plans to close the controversial antitrust case against Gazprom on May 24.

The Russian energy giant is expected to escape without a fine on charges that it abused its market power in Central and Eastern Europe by overcharging and banning the resale of gas. However, the Kremlin-backed firm could face fines in the future if it fails to comply with a set a commitments it agreed to as a part of a settlement deal.

Reuters was the first to report on April 3 that Gazprom, which supplies a third of the EU’s gas, and the EU competition enforcer would reach a deal, staving off a fine of as much as 10% of the company’s global turnover.

EU-Russia relations have been frosty since Moscow’s annexation of Ukraine’s Crimea region in 2014, sinking further over a nerve toxin attack against a former Russian spy in England in March that the British government blamed on Moscow.

Full Content: EurActiv

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