The government and Rompetrol in February signed an agreement under which the latter has agreed to buy back 26.69% in its refining unit Rompetrol Rafinare (RRC.RO) in exchange for $200 million.
In addition, the government has pledged to withdraw a series of lawsuits filed against Rompetrol as a precondition to the sale agreement.
“In this case, the court actions could have been withdrawn based on a transaction between the Finance Ministry and the The Rompetrol Group which could have been approved by a government decision. However, the government decided to draft a bill on the matter,” Basescu said in the reexamination request.
Following the adoption of the bill in parliament, the lawmakers have breached the principle of separation of powers, the chief of state said.
Considering the parliament’s “exclusive legislative competency,” Basescu has requested the law approving the memorandum of understanding between Romania and Rompetrol be reexamined with a view of rejecting it.