OREANDA-NEWS  The Polish Court of Appeal overturned the decision of the Competition and Consumer Protection Authority (Polish antimonopoly regulator UOKiK) to impose a fine of more than 29 billion zlotys on Gazprom and its five partners building Nord Stream 2, the Polish publication Puls Buzinesu reported.

At the end of October 2022, a similar decision was made by the Polish Court for the Protection of Competition and Consumer Rights. UOKiK promised to appeal this decision to the Court of Appeal in Warsaw; and then to the Supreme Court.

The court of First Instance noted that the joint venture was never created, and the assessment of the consequences for the economy, as well as the attempts of the project participants to circumvent the legislation, is beyond the responsibility of UOKiK.

In 2020, UOKiK completed a two-year investigation, following which it announced that the loan agreements concluded between Nord Stream 2 AG, Gazprom PJSC and Western financial investors for the purpose of financing the Nord Stream 2 project were, in fact, circumvention of the antimonopoly legislation of the Republic of Poland, concentration of business. In this regard, according to Polish officials, it was necessary to submit a notification to UOKiK. The antimonopoly authority of Poland fined Gazprom and Western financial investors.

UOKiK imposed a maximum fine on partners – in the amount of 10% of revenue: $7,755 billion on Gazprom, Engie Energy – $14.8 million, Uniper – $8 million, OMV – $23.4 million, Wintershall Dea – $8 million.