Back in 2019 the EU went after Valve and select publishers on Steam for geo-blocking, then in 2021 they were issued fines which naturally was appealed but it has been dismissed so it's likely Valve will now have to pay up.
As per the press release from September 27th it notes Valve and five games publishers including Bandai, Capcom, Focus Home, Koch Media and ZeniMax infringed EU competition law.
The Commission found that Valve and the five publishers had participated in a group of anti-competitive agreements or concerted practices which were intended to restrict cross-border sales of certain PC video games that were compatible with the Steam platform, by putting in place territorial control functionalities during different periods between 2010 and 2015, in particular the Baltic countries and certain countries in central and Eastern Europe.
Valve brought an action before the General Court of the European Union, seeking to have the decision annulled in
so far as it related to it.
In its judgment delivered today, the General Court dismisses the action.
To sum up: Valve allowed the use of Steam keys that were locked to specific regions in the EU, preventing other regions from getting them cheaper which is a breach of EU rules. Valve did already stop doing this years ago as this happened between 2010 and 2015, so this is a more of a historical case that Valve tried fighting on copyright grounds that the EU rejected so they will have to pay the full €1.6m fine.