Romania
1. Does Romania have a sanctions regime in place?
Yes.
2. Does Romania implement UN sanctions?
Yes.
3. Does Romania implement an autonomous sanctions regime?
No.
4. What is the nature of the sanctions regime in Romania?
Romania is an EU member state. The Government Emergency Ordinance no. 202/2008 (“GEO 202/2008”) regarding the implementation of international sanctions was implemented by the Romanian government. This ensures the direct applicability at a national level of international sanctions adopted by the UNSC and the EU.
5. Does Romania maintain a list of sanctioned individuals and entities?
No – Romania refers only to the EU and UN lists.
6. Are there any other lists related to sanctions?
No.
7. Does Romania have a licensing or authorization system in place?
According to the conditions laid down in the applicable Romanian legislation, a person may make a request in writing to the competent Romanian authority for a waiver of the application of international sanctions. The competent authority will decide whether to grant the requested derogation or not, after obtaining a notice of compliance with international law from the Ministry of Foreign Affairs. Notification and authorization procedures are also implemented for the transfer of financial funds to and from Iran.
8. What are the consequences for a breach of sanctions in Romania?
Article 26 of the GEO 202/2008 states that a breach of the provisions of the GEO 202/2008 constitutes a contravention punishable by a fine of 10,000 RON to 30,000 RON and the confiscation of property used or which resulted from the misdemeanour.
9. Who are the relevant regulators in Romania and what are their contact details?
Freezing of funds and economic resources The National Bank of Romania 25 Lipscani Street District 3, Code 030031 Bucharest Romania T: (+4) 021 313 04 10 www.bnro.ro
The Financial Supervisory Authority – for supervised entities operating on the capital market, insurance and private pension sector 15 Splaiul Independenţei District 5 Postal Code 050092 Bucharest Romania F: (+4) 021 659 60 51, (+4) 021 659 64 36 E: office@asfromania.ro W: www.asfromania.ro
The National Office for Preventing and Combatting Money Laundering (for entities not supervised by other prudential supervisory bodies). 1 Ion Florescu Street District 3 Bucharest Romania T: (+4) 021 315 52 07 F: (+4) 021 315 52 27 E: onpcsb@onpcsb.ro W: www.onpcsb.ro
Freezing of assets The Ministry of Public Finance 17 Strada Apolodor street, District 5, Postal Code 050741, Bucharest, Romania T: (+4) 021 319 97 59, (+4) 021 226 11 10, (+4) 021 226 10 00 F: (+4) 021 312 25 09 W: www.mfinante.ro
The National Agency for Fiscal Administration 17 Apolodor Street District 5, Code 050741 Bucharest Romania T: (+4) 021 387 10 00, (+4) 021 310 68 20, (+4) 021 387 11 10 E: presa.anaf@mfinante.ro W: www.anaf.ro
Restrictions on trade Department for Foreign Trade (Ministry for Business Environment, Commerce and Entrepreneurship) 152 Calea Victoriei District 1 Bucharest Romania W: www.dce.gov.ro
Customs General Directorate (National Agency for Fiscal Administration, Ministry of Public Finance) 34-40 Alexandru Ivasiuc St Building 5, District 6 Postal Code 60305 Bucharest Romania T: (+4) 021 315 58 58, +4 021 315 58 59 F: (+4) 021 313 82 51 E: vama@customs.ro W: www.customs.ro
Restrictions on trade in military and dual use goods National Agency for Export Control 8 Polonă Street District 1, Code 010501 Bucharest Romania T: (+4) 037 430 69 35 F: (+4) 037 430 69 24 E: consultanta.sdu@mae.ro W: www.ancex.ro
Ministry of Defence 110 Izvor Street District 5, Code 050561 Bucharest Romania T: (+4) 021 410 40 40, +4 021 402 34 00 F: (+4) 021 319 56 98 W: www.mapn.ro
Ministry of Economy 152 Calea Victoriei District 1 Postal Code 010096 Bucharest Romania T: (+4) 021 202 54 26 E: economie.gov.ro
Travel Restrictions General Inspectorate of Border Police 42C Geniului Boulevard District 6, Code 060117 Bucharest Romania T: (+4) 021 316 25 98, +4 021 318 25 98 F: (+4) 021 312 11 89 E: pfr@igpf.ro W: www.politiadefrontiera.ro
National Visa Centre (Ministry of Foreign Affairs) 31 Aleea Alexandru District 1 Postal Code 011822 Bucharest Romania T: (+4) 021 232 55 07 F: (+4) 021 232 55 78 W: www.mae.ro
Contributor law firm
Alexandra Sulea
Senior Associate
Daniela Stanica Associate
Eversheds Romania Romania Victoria Center
9th Floor 145 Calea Victoriei
Bucharest 1 0100072
Romania
T: (+40) 21 311 2561 alexandrasulea@eversheds.ro
T: (+40) 21 311 2561
danielastanica@everhseds.ro http://www.eversheds-sutherland.com
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