(Finance) – The European Commission he inflicted on Lantmannen a sanction of about 47.7 million euros for participating in a sign concerning the mechanism of formation of wholesale ethanol prices in Europe. This decision follows the adoption of a settlement decision against Abengoa in 2021 and the closure of proceedings against Alcogroup in 2023.
“Biofuels can play a key role in promoting cleaner transport and reducing greenhouse gas emissions, in line with the objectives of the Commission’s Green Deal – commented the commissioner Didier Reynders, responsible for competition policy – It is therefore essential that the biofuels market functions efficiently. Today we close our cartel investigation by fining one of the largest ethanol producers in the Nordic region for colluding to influence ethanol benchmarks in the market. This demonstrates our commitment to preserve competition in all markets, especially those relevant to the green transition“.