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Wednesday, October 14, 2020

Polish $7.6 billion Antitrust Fine on Nord Stream 2 Gas Pipeline to Germany !



This is  part of Washington's war on the project,including  sanctions on executive heads of European companies involved. Poland's Office of Competition and Consumer Protection wants to force the six companies jointly building and financing the project to cancel their contracts, despite the gas pipeline being in its final phase of development. This includes European investors OMV, Wintershall, Engie, Shell and Uniper.

Russian state-owned Gazprom denounced the "unprecedented fine"  as unlawful and unjustified.  The fine's "unprecedented amount evidences the decision to oppose implementation of the Nord Stream 2 project by all means," the statement said, according to TASS.

Gazprom said the project "did not breach anti-monopoly laws of Poland," while Kremlin spokesperson Dmitry Peskov separately underscored Gazprom would "do everything that is possible" to legally oppose the decision. The Kremlin warned this could have a lasting negative impact on Russian-Polish relations.

Polish authorities have fined Russia's Gazprom an unprecedented $7.6 billion (6.5 billion euros) for constructing the almost completed Nord Stream 2 pipeline to Germany.  

Poland anti-trust authorities claim Nord Stream 2 will punish Polish consumers while increasing European dependence on on Russian imports. I have no idea how more natural gas flowing into Europe would  "punish" anyone. Germany has stood by the project.  

“Carrying out the project is tantamount to breaking the rules of law and of fair competition that will lead to an increased dependence of gas recipients on the internal market on one supplier - Gazprom,” the Polish antitrust office said.

The new pipeline would result in “serious consequences for Poland's and the EU's economy," by restricting the range of supplies while increasing gas prices for consumers. I have no idea how reducing the supply of gas available to Europe would increase prices.

This is not economics, it is Poland supporting the U.S. anti-Russia policies.
U.S. anti-Russia policies led by President Trump, who was falsely accused of Russian collusion for over four years by smarmy Democrats.