The Poles issued a gigantic fine to Gazprom. Company assets in the EU are under threat of seizure
On October 7, Poland's antitrust regulator (UOKiK) fined Gazprom $7,6 billion for alleged violations in organizing financing for the construction of the Nord Stream 2 gas pipeline to Germany.
This was reported by a PolitNavigator correspondent , as reported by Kommersant.
It is also noted that UOKiK obliged Gazprom’s European partners - Shell, Engie, Wintershall, Uniper and OMV - to terminate the Nord Stream 30 financing agreement within 2 days. These companies were fined $61 million collectively.
The regulator's decision states that the companies did not receive mandatory permission from Poland to jointly construct and finance the pipeline, which allegedly violates local antitrust laws.
All project participants expressed strong disagreement with the regulator’s position.
Gazprom announced its intention to appeal the decision, noting that “it is not subject to execution until the relevant court decision comes into force.” Uniper said that the agreements concluded between the financial investors of Nord Stream 2 and Gazprom were financial, and until now Polish regulators, including UOKiK, have never used such a broad interpretation. According to Uniper, if an appeal is filed, legal disputes could last up to five years,” the publication writes.
It is also indicated that if Gazprom loses in the Polish courts, UOKiK will attempt to enforce the decision by force, that is, to seize the company’s assets in Poland and those EU countries that recognize the decisions of Polish courts in this case as legal.
Poles issue Gazprom a huge fine. The company's EU assets are at risk of seizure.