Valve does nothing to suppress competition (it can't really either)
They at least used to have a rule that publishers can't sell cheaper on other platforms (outside of timed sales that is), meaning that consumers can't get a better price on other storefronts even when those platforms would take a smaller cut. That was very much suppressing the competition as them taking smaller cuts can't transfer into cheaper prices if the publisher also wanted to sell on Steam.
Has a dual citizenship of Finland and the USA, so still a European citizen too.