If you thought things couldn’t get any worse for Gazprom, think again. The European Commission, which has been investigating Gazprom for the past three years, has charged the Russian energy giant with breaking anti-trust rules and charging unfair prices. Anti-monopoly chief Margrethe Vestager said the company used its influence — particularly in central and eastern Europe — to limit customers’ ability to resell gas. Gazprom, which denies the charges, has been given 12 weeks to respond with the formulae used to calculate its prices. This allegation, which threatens to cost Gazprom 10% of its global turnover, could further sever ties with Moscow, already reeling after the Ukraine crisis. The wait is on to see if Gazprom sinks or swims.
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From bad to worse
The European Commission indicts Russian energy giant, Gazprom for market abuse
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