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Ukraine fines Gazprom $3.5 bln for abuse of transit market

KIEV, Jan 22 (Reuters) - The head of Ukraine’s competition authority said on Friday that the watchdog had decided to fine Russian gas company Gazprom 85 billion hryvnias ($3.5 billion) for abusing its monopoly on the Ukrainian gas transit market.

“A decision has been taken in relation to the abuse of the monopoly on the transit market ... by Gazprom as a monopoly buyer. The amount of the fine is 85 billion hryvnia,” Yury Terentyev said in a post on Facebook.

Reporting by Pavel Polityuk; Writing by Alessandra Prentice; Editing by David Goodman

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