Lithuania has so far failed to find Gazprom's assets from which it could recover a 42-million-euro anti-trust fine that was slapped on the Russian gas giant almost five years ago.
© Foto - gazprom.ru

Jolanta Ivanauskiene, a member of the Competition Council, said the authority is analyzing various legal means to recover the fine both in Lithuania and abroad.

"Since it is not possible to use the usual enforcement measures, such as recovery from the infringer's funds or real property, etc., the process is complicated and lengthy," she said.

The council plans to turn to EU member states where Gazprom may hold assets, according to Ivanauskiene.

In June 2014, the competition authority ruled that Gazprom's refusal to negotiate with Lietuvos Energijos Gamyba (Lithuanian Energy Production), formerly Lietuvos Energija (Lithuanian Energy), on a natural gas exchange deal in 2013-2015 prevented the Lithuanian company from purchasing cheaper gas from another supplier and thus breached conditions tied to the regulator's 2004 approval of the Russian company's acquisition of a 34 percent stake in the-then Lietuvos Dujos (Lithuanian Gas).

It imposed a fine of almost 36 million euros, the largest anti-trust fine ever in the country, on Gazprom. Another 6 million euros in interest accumulated during the maximum 180-day period, bringing to 42 million euros the total amount of money owed by the Russian company to Lithuania.

Bailiffs were tasked with enforcing the payment after the Russian company missed a deadline for paying the fine, but they failed to find any Gazprom assets in Lithuania.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Lithuania posts one of EU's largest monthly decreases in industrial production

Lithuania posted one of the largest monthly decreases in industrial production among the EU's member...

President's proposed faster pension rise to cost EUR 65 mln in 2 years

A faster increase in pensions, proposed by Lithuanian President Gitanas Nauseda, will cost the state...

Foreign countries surprised by Lithuanian success in this field

Growing social pressure regarding waste and ecology forces countries to introduce packaging...

Residents to be offered EUR 1,000 for less polluting cars

Lithuanian residents will be able to ask for 1,000 euros in compensation when changing their old...

Biggest land owners in Lithuania named

Ramunas Karbauskis , leader of the ruling Lithuanian Farmers and Greens Union, businessman Darius...