Wednesday, October 7, 2020

"Poland Slaps 6.45 Bn Euro Fine On Gazprom Over Nord Stream 2 Pipeline"

Now go for WWII reparations.
Start with a million euros per murder for Katyn.

From AFP via Barron's, October 7:

Poland's anti-monopoly watchdog on Wednesday said it was demanding Russian gas giant Gazprom pay a 6.45 billion euro ($7.58 billion) fine over the Nord Stream 2 pipeline linking Russia to Germany.

The regulator said it was also imposing a 52 million euro fine on five other companies, including British-Dutch giant Shell, involved in building the controversial link.

The watchdog, UOKiK, warned in 2016 that, if built, Nord Stream 2 could hamper competition and so refused to approve the consortium.

UOKiK then launched an antitrust procedure against the companies in 2018.

"Tomasz Chrostny, President of UOKiK, has imposed a penalty of over PLN 29 bn on Gazprom, and of over PLN 234 mln on 5 remaining companies participating in the construction of the gas pipeline -- as a result of the lack of approval for the Nord Stream 2 transaction," UOKiK said in a statement on its website.

Poland, Ukraine, the Baltic states and the US fiercely oppose Nord Stream 2, fearing it will increase Europe's reliance on Russian energy supplies which Moscow could then use to exert political pressure.

Poland still depends on Russia for most of its gas but has said it will terminate a major contract with Gazprom thanks to a successful diversification of energy sources.


Gazprom's share price fell around 1.4 percent following the announcement and the company said in a statement it would appeal against the fine.....