Romania still pays for investment in Ukraine made by Ceausescu

The Economy Ministry’s budget for next year includes a RON 4.1 million (almost EUR 1 million) allocation for the Ukrainian steel plant Krivoi Rog, an investment started in the ‘80s by five countries in the former Soviet bloc, including Romania. Romania has allocated the same amount this year, up 32% compared to 2014, reports local Ziarul Financiar. After the Soviet Union collapsed, Ukraine received a 56.8% stake in the plant, Romania a 27% share, and Slovakia an 18.2% stake. The steel plant, in which Romania has invested some USD 800 million before 1989, has never been finalized. Romania now pays each year for the security on site, to prevent equipment theft. editor@romania-insider.com