First contract concluded on the Romanian Commodities Exchange Gas Forward CCP platform

On 1 August 2019, the Romanian Commodity Exchange (“RCE”) announced the conclusion of the first transaction on its new trading platform – “Gas Forward CCP”. Gas Forward CCP is available formedium-term contracts (contracts with a week or month duration). The… Read moreFirst contract concluded on the Romanian Commodities Exchange Gas Forward CCP platform

Romania: bid round for mining exploration: geothermal, mineral water and other resources

On 19 August 2019, the National Agency for Mineral Resources (“NAMR”) published Order no. 294/6.08.2019 in the Romanian Official Gazette. The order approves the list concession areas forexploration activities and opens bidding round 99/2019 in the mining sector. The list… Read moreRomania: bid round for mining exploration: geothermal, mineral water and other resources

Romanian oil and gas – new licensing round for upstream onshore and offshore

After a lapse of almost ten years, the Romanian government just launched a public tender for the exploration, development and production operations of 22 onshore and six offshore blocks within Romania’s territorial waters of the Black Sea. The blocks vary… Read moreRomanian oil and gas – new licensing round for upstream onshore and offshore

Implementation of 4th AML Directive brings new regulatory hurdles in Romania

As we previously informed, Law no. 129/2019 which implements the 4th Anti-Money Laundering Directive, Directive (EU) 2015/849, was promulgated by the Romanian President and will come into force three days after being published in the Romanian Official Gazette. Legal entities… Read moreImplementation of 4th AML Directive brings new regulatory hurdles in Romania

4th Anti-Money Laundering Directive results in amendments to Romanian Companies Law

On 11 July 2019, the Law for preventing and combating money laundering and terrorist financing (the “Law”), which transposes the 4th Anti-Money Laundering Directive, Directive (EU) 2015/849, was promulgated by the Romanian President. The Law will come into force three… Read more4th Anti-Money Laundering Directive results in amendments to Romanian Companies Law

Supreme Court decriminalises procuring of products with psychoactive effects for personal use

In late 2018, the Romanian Supreme Court issued an unexpected ruling decriminalising the procuring of products with psychoactive effects, by a final consumer, for personal use. In its ruling, the Supreme Court held that the act of procuring products suspected… Read moreSupreme Court decriminalises procuring of products with psychoactive effects for personal use