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EU Probes Gazprom

The European Commission has opened an investigation into suspected anti-competitive market practices by Gazprom, the EU watchdog said Tuesday.

The commission said it was concerned that the company was abusing its dominant position in central and eastern Europe in upstream gas supply markets.

Specifically, it said, the probe would focus on suspicions that Gazprom was hindering the free flow of gas across the E.U., preventing supply diversification and imposing unfair prices on its customers by linking the price of gas to oil prices.

"Such behavior, if established, may constitute a restriction of competition and lead to higher prices and deterioration of security of supply," the commission said in a statement. "Ultimately, such behaviour would harm E.U. consumers."

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