EU antitrust chief Margrethe Vestager asked gas companies, including Gazprom, in January about the reason for the tight supplies. That came after allegations that the Russian company would manipulate prices by withholding stocks. At that time, prices were soaring. Vestager is likely to gather more information about Gazprom’s European businesses. First, the offices in Germany would now have been searched.
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Gazprom and the Kremlin have repeatedly denied having withheld gas supplies. In addition, the parties indicate that they have always adhered to the long-term obligations.
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Companies that violate EU antitrust rules face fines of up to 10 percent of their global turnover. Gazprom escaped a fine for abuse of power in 2018, after the company promised, among other things, to guarantee the free flow and resale of gas in Central and Eastern Europe at competitive prices.
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