Romania’s state-owned Port of Constanța has asked the government to withdraw tax authorities so they do not seize funds intended for the purchase of the Giurgiulesti Port. According to the port’s management, aside from unpaid taxes, it has no other resources available for the deal.
The sale of Giurgiulesti port, approved under Maia Sandu, is once again in question—this time due to the buyer’s financial difficulties. The Romanian port could face bankruptcy if it pays the taxes demanded by the ANAF.
Tax Dispute
When applying to purchase Giurgiulești, the Constanța port had not settled outstanding obligations. Romania’s tax authority has now presented claims totaling around €20 million, including taxes and interest on dividends for 2023–2024.
Although the amount is not exceptionally large, the port disputes the obligation and has already lost its case in the first court instance. Its legal team is preparing an appeal.
Port representatives argue that shareholders set dividends at zero for those years, meaning there is no basis for taxation. However, tax authorities and the court calculated liabilities based on overall company profit, not just declared dividends.
Risk to the Deal
Port officials warn that if taxes are enforced, there will be no funds left to complete the acquisition of the Moldovan port—valued at about $65 million. They state that the money simply cannot be sourced elsewhere.
Despite the deal having government approval, Romanian tax authorities insist that the purchase was initiated voluntarily and that financial planning risks fall entirely on the buyer.
“This has nothing to do with the case,” ANAF representatives stated.
As a result, the already fragile transaction may collapse. Alternatively, the port may need to secure more expensive financing, which its representatives claim would not serve the public interest.
Questions Around the Deal
Romania is set to acquire the entire Giurgiulesti port for approximately €56 million. The funds were allocated by the government of Ilya Bolojan through the Ministry of Transport, in coordination with the European Bank for Reconstruction and Development.
Even in Romania, the figures have raised concerns. Lawmakers noted that repairs to just a few piers in the Port of Braila cost around €50 million—nearly the same as acquiring an entire strategic port abroad.
Criticism in Moldova
In Moldova, critics question why the government did not attempt to repurchase the port itself. The price was considered manageable, and ownership would have ensured national control over a key southern logistics hub.
Former president Vladimir Voronin has previously claimed that Romanian authorities opposed Moldova having an independent port on the Danube and the Black Sea.
Uncertain Outcome
As Constanta continues legal battles with Romanian authorities over €20 million, the future of the Giurgiulesti deal remains uncertain.
There are concerns in Moldova that if the agreement collapses, the port could be sold to third parties—potentially removing it permanently from Moldovan control.
At the same time, critics raise a key question: why has Romania’s own tax system become the weakest link in such a strategic transaction?
