Basescu notified the Constitutional Court on October 24, soon after the Senate rejected his request to reexamine the approval of the memorandum.
The MoU was signed in Bucharest on February 15, 2013.
Rompetrol, a unit of Kazakh KazMunayGas, said in February it reached an agreement with government officials to buy back a minority stake in its unit Rompetrol Rafinare (RRC.RO).
“The Rompetrol Group and the Romanian state, represented by the state’s privatizations office OPSPI, have signed a memorandum of understanding to settle their litigation over the conversion of Rompetrol Rafinare bonds into shares to the benefit of the state,” Rompetrol said in a statement in February.
Under the agreement, Rompetrol pledges to buy a 26% stake in Rompetrol Rafinare from OPSPI for $200 million.
The two parties also agreed to set up a joint investment fund to be 80%-owned by The Rompetrol Group and 20%-controlled by the Romanian state.
Basescu argues the bill has no general character and is meant to apply to a particular case.