This is only the most recent development in a long-standing feudbetween the EU and Russia. Gazprom's supply contracts have beenincreasingly challenged by its European partners, as oil-linked priceshave soared along with global benchmark crude prices. Gazpromgranted an average 10% cut to a handful of small and mid-sized utilities,including Italy's Sinergie (in 2011), but soaring oil-linked pricesand take-or-pay clauses implemented during a year in which there hasbeen a largely mild winter have also put pressure on larger players.
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