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May 18, 2021

Videanu claims South Stream project ‘could open Kremlin’s gates’

South Stream is one of the most expensive projects, evaluated at USD 17 bln. A share between 5 and 10 per cent would be a reasonable Romanian contribution, Economy Minister Adriean Videanu said. Romgaz and Transgaz supposedly have a sufficient amount of liquidity so that the Romanian state does not need to allot other resources to South Stream, the minister added, quoted by daily ‘Romania libera.’ When asked whether Romania’s participation in South Stream could also contribute to strengthening ties between Romania and Russia, Videanu replied that, the moment the element of trust in an important economic project appeared, many doors could open.

Russian officials iterated, on several occasions, that their entrepreneurs would be willing to invest more in Romania, the minister said. He also claimed he could notice, at this time of recession, a deeper solidarity between Russian investors and their employees: although enterprises did not operate for some time, no employee was made redundant. Videanu thinks that the presence of Russian investors in strategic sectors is vital for Romania, in order to maintain a relationship of mutual confidence between Russian investors and the Romanian state.

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