BRUSSELS (AP) — The European Union is imposing a series of obligations on Russian energy giant Gazprom to improve the flow of gas at competitive prices in eastern Europe.
EU Antitrust Commissioner Margrethe Vestager said Thursday that Gazprom will have to ease its hold on the market there, giving consumers "an effective tool to make sure that the price they pay is competitive."
Following three years of legal action, the decision means Gazprom will have to remove restrictions on customers to resell gas across borders and improve gas flows to members like Bulgaria and the Baltic nations.
If Gazprom breaks any of the obligations, the EU can impose a fine of up to 10 percent of the company's global turnover.