Photo: 
Reuters
Gazprom: high noon in Brussels

First Google, now Gazprom. This week the European Union’s competition chief, Margrethe Vestager, is expected to launch a much-awaited “statement of objections”—Eurospeak for a charge-sheet—against the Russian gas giant. The largest trustbusting raids in the European Commission’s history, on dozens of Gazprom offices and affiliates in September 2011, yielded a stack of evidence regarding alleged cartel-like behaviour: discriminatory pricing, blocking rival suppliers and restricting customers’ ability to resell gas. All that is anathema to the EU’s hard-punching energy liberalisers. Though the complaint has been ready for a year, the previous commissioner flinched at escalating tensions with Russia over the war in Ukraine. But winter is over, and diversification and renewables mean European vulnerability to Russian gas sanctions is decreasing. Now Gazprom has 12 weeks to reply. Failing a deal, big fines loom—up to 10% of turnover—and perhaps class-action lawsuits from overcharged customers. Gazprom’s scalp will adorn Ms Vestager’s desk.

Apr 21st 2015
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