The European Union on Thursday imposed obligations on Russian state-owned energy giant Gazprom to improve the flow of gas at competitive prices in eastern EU nations, but did not fine the company. If Gazprom breaks any of the obligations, the EU can impose a fine of up to 10 percent of the company's global turnover. The European Commission says Gazprom has used that market dominance to obtain advantages on price and to control the pipelines through which its gas flows. "We believe that today's decision is the most reasonable outcome for the well-functioning of the entire European gas market," Gazprom's Deputy CEO Alexander Medvedev said in a statement carried by Russia's state Tass news agency. The decision comes at a time of increasing tension between Russia and the EU, ranging from the annexation of Crimea in Ukraine to cyberattacks against EU nations.

Source: ABC News May 24, 2018 10:20 UTC