Ukraine

27 Jan 2016

Ukrainian Competition Watchdog Levies $3.4bn Fine on Gazprom

On January 22, 2016, Yuriy Terentyev, chairman of the Ukrainian competition watchdog, the Anti-Monopoly Committee of Ukraine (AMCU), took to Facebook to announce that Gazprom, Russia’s state-owned gas enterprise and the exclusive supplier of gas through Ukraine’s transit pipeline, will be fined for the abuse of dominant position in the Ukrainian gas transit market.  According to Mr. Terentyev, the AMCU issued a fine of 85 billion hryvnias, or 3.4 billion dollars.  No other details were disclosed.  Whether or not Gazprom ends up paying said amount, this case is particularly interesting as it represents the first time that a fine was actually levied […]

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