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Russia's Gazprom 'Satisfied' After Settling EU Antitrust Case Without Fines

Thawt Hawthje / Flickr (CC BY 2.0)

Russian gas giant Gazprom welcomed the European Union's decision to settle its seven-year-long investigation of the firm without fines on Thursday.

"We are satisfied with the commitments decision announced," Gazprom's Deputy Chief Executive Alexander Medvedev said in a statement. "Today's decision is the most reasonable outcome for the well-functioning of the entire European gas market."

He said Gazprom is commited to comply with them in future.

EU antitrust regulators ended a seven-year-long investigation into Gazprom on Thursday after the Russian gas giant agreed to reforms aimed at bringing down gas prices and allowing rivals a foothold in eastern Europe.

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