ABSTRACT
This chapter analyses Russian involvement in the Romanian energy sector. It also argues that the key to understanding the dynamics governing the Romanian-Russian energy relationship is the legacy of Ceausescu's policies, which aimed at gaining economic and political independence from Moscow during the communist era. The chapter further states that during the transition period, the emerging capitalist class used the legacy discourse of economic independence in order to block both Russian and Western capital from entering the country, thus reinforcing isolationistic tendencies. It demonstrates that Russian limited investments in the Romanian energy sector were not driven by any political agenda but were rather aimed at making quick profit. The chapter focuses on the developments of the last 25 years or so, it is important to remember that the Romanian oil and gas business goes back to 1857 and as such has a very long history.
