The European Community has accused Russian energy giant Gazprom of abusing its dominance in the markets of Central and Eastern Europe.
Some Eastern European countries have argued that the state-controlled Gazprom has inflated prices and has suppressed competition. Along with imposing fines of 10% of the company’s annual profits in the EU, equivalent to approximately EUR 93 billion, the regulators could force the company to make its business more transparent.
As reported earlier, Gazprom has threatened to increase gas prices for the EU. According to Gazprom’s CEO, any concerted action to alter Gazprom’s business model will result in the setting of a higher price for Russian gas.
The move by antitrust regulators was confirmed by two people with knowledge of the matter, who spoke on the condition of anonymity, as the decision is confidential.
Gazprom said it “cannot comment before any documents are received.”
A spokesman for the regulator declined to comment.
