Policy & Regulation

Gazprom continues to contest antimonopoly fine

Gazprom will continue to contest a $3.4 billion fine imposed by the Ukrainian Antimonopoly Committee, the company said in its Q2 report.
By Staff reporter 16 August 2016 0 21536

Gazprom will continue to contest a $3.4 billion fine imposed by the Ukrainian Antimonopoly Committee, the company said in its Q2 report.

The committee imposed a fine of UAH 85.97 billion ($3.37 billion) on 22 January 2016, after determining Gazprom had abused its monopoly position transiting gas through Ukraine.

Gazprom argued the committee does not have the authority to regulate transit through Ukraine.

The company filed an appeal in the Kiev Economic Court in April on the last day before the appeals period expired.

The Higher Economic Court of...