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EC to block Russian energy companies from EU market

The European Commission is set to consider a series of barriers to Russian energy companies wishing to enter the European market, the Financial Times reported Thursday.

According to a confidential working document obtained by the newspaper, the Commission is preparing a series of measures to restrict access to Europe’s gas and electricity distribution sectors to foreign companies, especially Russian ones. The move is seen as a countermeasure to Russian restrictions on European investment in the country’s energy sector. Also affected will be Saudi Arabian companies, whose market is likewise effectively closed to foreign firms. The document, which is tentatively scheduled for publication September 19, suggests that the measures will improve the competitiveness of companies already on the European energy market. (