European Union regulators to charge Russia’s Gazprom over anti-trust case.

European Union regulators to charge Russia’s Gazprom over anti-trust case. (PressTv).

  'Smart Move' with a once in a Century Winter offensive at the frontdoor of Europe.

EU Competition Commissioner Joaquin Almunia said on Thursday that the EU's executive was preparing a charge sheet against the Russian energy giant.

“It would be premature to anticipate when the next steps would be taken in this investigation, but we have now moved to the phase of preparing a statement of objections,” said the EU's anti-trust chief.

Gazprom is accused of hindering the free flow of gas across the EU and imposing high prices by linking the price of its gas to oil prices.

The EU's anti-trust chief said that if found guilty, the Russian energy giant may pay a fine of up to USD 15 billion (11 billion euros).

The decision came after a year-long probe and raids of several Gazprom units and its clients in central and eastern Europe.

The investigation covered Estonia, Latvia, Lithuania, Poland, the Czech Republic, Slovakia, Hungary and Bulgaria.

The Russian company supplies a quarter of Europe's gas consumption needs, with annual revenues of up to 150 billion dollars (110 billion euros).

Experts warned that the European Commission's allegation against Gazprom is likely to ratchet up the tension between Europe and Russia.

Russia criticized EU attempts to boost energy market competition and end its over-reliance on Russian supplies.

Gazprom, Russia's fourth-largest oil company, produced 30.6 million tons of oil equivalent in the first six months of this year, and is aiming to increase its annual output to 100 million tons of oil equivalent by 2020.


Hmmm.....'Smart Move' with a once in a Century Winter offensive at the frontdoor of Europe.