European Union to stop cartel proceedings against Gazprom

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European Union to stop cartel proceedings against Gazprom

Mon, 03/13/2017 - 14:06
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European Union to stop cartel proceedings against Gazprom (cbies / Shutterstock)
European Union to stop cartel proceedings against Gazprom (cbies / Shutterstock)

After two years, a delicate conflict between Russia and the European Union could soon be over. The European Union Commission wants to stop the a antitrust-suit against Gazprom after the Russian state has made concessions. However, before the procedure is actually terminated, interested parties should have the opportunity to comment, said Competition Commissioner Margrethe Vestager.

The Brussels authorities had accused Gazprom of abuse its dominant position as a gas supplier for Central and Eastern European countries. In April 2015, the EU Commission made a complaint that Gazprom violated EU antitrust rules with its overall strategy to foreclosure these gas markets. Because of the already existing tensions between Russia and the EU, the process was considered politically delicate.

The EU Commission has been investigating the business of Gazprom in Europe for five years and has accused the company of impeding competitors and demanding excessive prices in Eastern Europe. Gazprom supplies about a third of the natural gas consumed in Europe.

The parties concerned now have seven weeks to comment on the offers of the Russian group. It is only thereafter that a definitive decision by the Brussels authorities will be issued.

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