Romania Takes Control of Another Strategic Moldovan Asset

Semyon ALBU, RTA: The year 2026 is quickly picking up pace, and the country’s socio-political life is in full swing: citizens are complaining on social media about exorbitant electricity and heating bills, Munteanu’s government is rumored to face an imminent resignation, a church conflict has erupted in the village of Dereneu, potentially foreshadowing a national religious split, and there are yet another round of verbal skirmishes with Moscow… Against this backdrop, yesterday a piece of news passed almost unnoticed, yet in terms of significance and its strategic consequences for Moldova, it could easily overshadow many current events. What happened? Simply that the country’s only seaport was officially transferred under Romanian control. The full share package of the Giurgiulesti International Free Port now belongs to the Romanian state-owned company “Constanta Maritime Ports Administration”, which yesterday approved the sale agreement that had been signed back on December 31. As usual, everything is presented with maximum pomp and glowing prospects. We are being promised large-scale investments in modernizing the port’s infrastructure, expanding its capacities, and strengthening its position in the Black Sea region and the Danube basin. Plans include the construction of new berths, development of adjacent land plots, additional services for operators, and integration into Constanta’s trade network. However, it’s not hard to guess that things are not as smooth and flawless as the official press releases make them out to be. First, it’s worth emphasizing the importance of the Port of Giurgiulesti for Moldova. It handles over 70% of the country’s maritime imports and exports, serving oil products, grain, container cargo, and metals, and acts as a crucial logistical link in the export system of domestic agricultural products. Despite its challenges, such as the limited capacity of the surrounding road and rail infrastructure, the port consistently generates profit, especially after 2022, when it began handling record volumes of cargo. To be fair, this strategic asset slipped from the state’s hands into private control long before the current rulers. Since then, it has repeatedly become the subject of various gray schemes, manipulations, and legal disputes. Finally, starting in 2021, the port was managed by the European Bank for Reconstruction and Development, with a view toward its eventual sale to a “reliable” investor. The question arises: why did the current authorities not even attempt to return the Giurgiulesti international port to state ownership? Would a profitable asset, generating significant revenue for the budget, really have been an obstacle for the country? Especially considering how much the ruling party boasted about nationalizing Chisinau Airport, that is the relevant experience was already gained. But apparently, seizing an asset from Ilan Sor is one thing, while negotiating with the EBRD is quite another. However, the case might be even simpler. The fact is, as early as 2023, Bucharest had set its sights on our port, as announced by the then Romanian Prime Minister. Soon, news of an imminent sale began circulating, forcing the government to launch a rather clumsy anti-crisis campaign, relying on the assumption that the general public wouldn’t scrutinize the details too closely. According to the authorities, the state-owned port in Giurgiulesti was not going to be sold; on the contrary, it would be developed with tens of millions of euros invested that was vividly presented by the well-known Andrei Spinu. In reality, Giurgiulesti has two ports: the international port, which is the main focus of our discussion, and the cargo-passenger terminal operated by the state enterprise “Portul Fluvial Ungheni”. According to officials, the latter is supposedly not going to be handed over to anyone. However, first, despite all the promises, no significant modernization is actually taking place there. Second, murky maneuvers sometimes occur around this facility as well, hinting at the desire of certain individuals close to power to “profit” from it. And third, in terms of cargo volume, it pales in comparison to its “international” counterpart and therefore attracts little interest from investors. Many eyes were on the international port in Giurgiulesti, and none more persistent than the Turkish industrial group Yildirim, which operates in metallurgy, port logistics, energy, chemicals, and finance. Their intentions were serious, offering an investment of €50 million – mind you, twice as much as the Romanians. One would think the outcome of the investor showdown was a foregone conclusion, since who in their right mind would refuse a more lucrative offer? But, as it turned out, that was also possible. Arguably, the conclusion of this story became quite predictable the moment Bucharest expressed its interest. Moreover, our authorities have a long history of handing over strategic infrastructure to their neighbors: the gas transport system has already fallen under Romanian control, resulting in higher tariffs for citizens, as have the electric grids. The transfer of the country’s only access to the sea in this context seems almost natural. After all, can Moldovan officials with Romanian citizenship, many of whom openly dream of ticking the box for enirea in a referendum and thereby dissolving their own state, really act any differently? Essentially, yet another fragment of our sovereignty has been handed over. But the matter goes beyond that. As we can see, the Russia-Ukraine conflict has significantly boosted the profits of the Giurgiulesti port, which, in the wake of attacks on Ukrainian port infrastructure, has become one of the possible alternatives for cargo transit. At the same time, the end of the war promises an even larger “jackpot”. Once hostilities in the neighboring country cease, large-scale reconstruction efforts will commence, backed by hundreds of billions of dollars in international aid and frozen Russian reserves, which Moscow has effectively already agreed to allocate for these purposes. Under such circumstances, it will be possible to extract literally super-profits that everyone clearly understands. This explains the fierce competition over even our relatively small port. Presumably, the state should have considered trying to reclaim the port and profit from it, but this was not done for the reasons already outlined. At the same time, it will still be quite fortunate if the neighbors merely take it over for prudent use. Many Romanian commentators openly admit that the Giurgiulesti port is, in essence, a competitor in the market, and its acquisition is primarily aimed at eliminating an extra rival on the Danube. Therefore, it is entirely possible that the fate of our “sea gateway” could turn out even grimmer than it seems now: at best, serving as a source of backup capacity when needed, and at worst – as an asset slated for “quiet” dismantling.