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Nord Stream affiliates to pay 50 mln UAH compensation to Ukraine

Nord Stream affiliates to pay 50 mln UAH compensation to Ukraine Illustrative photo (Photo: Vitalii Nosach, RBC-Ukraine)

The German and Luxembourg companies will pay a UAH 50 million fine to the Ukrainian budget. In 2019, they completed a merger, forming the company Wintershall DEA AG, informs the head of the Ukrainian Antimonopoly Committee Pavlo Kyrylenko.

According to the Antimonopoly Committee of Ukraine, these are German BASF S.E. and Luxembourg-based LetterOne Holdings SA. In 2019, in violation of Ukrainian law, they carried out a concentration without the AMCU's permission by creating Wintershall DEA AG.

At the time, these companies were involved in the Nord Stream 2 project, although, according to their representatives, they withdrew from it after Russia's large-scale invasion of Ukraine.

"This does not negate the fact that the concentration was carried out without the permission of the Antimonopoly Committee of Ukraine - each of the two companies will pay UAH 25 million to the Ukrainian budget for this," writes Kyrylenko.

In June, the Antimonopoly Committee of Ukraine accepted for consideration the application of PJSC Ukrnafta (the largest oil company) and the Asset Recovery and Management Agency of Ukraine (ARMA) for merger clearance in the form of Ukrnafta's acquisition of the assets of PrJSC MC Ukrnaftoburinnya (private oil and gas production company).