Greece’s Ministry of Development has fined Proctor & Gamble Sole Shareholder Limited and Unilever Logistics AE 1 million euros each for profiteering.
The fines were issued following an audit completed by Greece’s Interdepartmental Market Control Unit and are the maximum that can be imposed on a company for violating article 54 of Law 5044/29-07/2023 regarding unfair profit.
Commenting on the fines, Minister of Development Kostas Skrekas says, “We have made it clear that no one is above the law. We are determined to implement the law, to prevent profiteering and support healthy competition in favor of the Greek family…We must all understand the critical nature of the current economic situation and the challenges that households face in accessing essential consumer goods.”
Continuing he adds, “Addressing inflation, and especially corporate greed, is a matter of social responsibility and social cohesion. Audits will continue and fines will be awarded without hesitation.”
