Poland’s competition regulator UOKiK announced on Wednesday, June 3, it has started proceedings against Gazprom and could fine the Russian company some €50 million (US$56 million).
The watchdog stated Gazprom has not cooperated with its antitrust investigation, failing to provide information related to the Nord Stream 2 gas pipeline, Kallanish Energy reports.
“The regulations are clear and the same for everyone, but Gazprom has refused to provide documents relevant to our investigation several times,” said UOKiK’s President Tomasz Chróstny.
“The Russian gas giant cannot act above the law, which is why I initiated proceedings against Gazprom regarding the imposition of a penalty for failure to provide information during the proceedings,” he added.
UOKiK wants to check the contracts between a subsidiary of Gazprom and the European companies financing the construction of Nord Stream 2. These were mainly contracts for the transmission, distribution, sale, supply, and storage of gas.
The Polish authority argues that if the transaction has an impact on the domestic market, or the capital group achieves adequate turnover on it, even a foreign company is obliged to report the transaction to the national antitrust office and respond to its calls.
Full Content:
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK Watchdog Says Fuel Retailers’ High Margins Spark Overcharging Concerns
Mar 28, 2024 by
CPI
Canadian School Boards Sue Social Media Giants for $4 Billion
Mar 28, 2024 by
CPI
Alaska Airlines and Hawaiian Airlines Enter Timing Agreement with DOJ
Mar 28, 2024 by
CPI
Sam Bankman-Fried Gets 25-Year Sentence for $8B Crypto Fraud
Mar 28, 2024 by
CPI
Walmart Withdraws and Refiles Antitrust Review Application for Vizio Acquisition
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI