Former Romanian President Traian Basescu is no longer indicted for the country's fleet sale while he was Transport Minister 15 years ago.

Prosecutors recently decided to close a case nicknamed "Flota" ("The Fleet), where Basescu had been accused of abuse of office, forgery, and embezzlement, reports local Mediafax.

They say Basescu did not produce any prejudice to the state company that owned the fleet, so there is no case against the former president.

Basescu served two terms as Minister of Transport: 1990 to 1992 and 1996 to 2000. During his second mandate, CNM Petronim SA Constanta sold the fleet of 16 ships for USD 63 million.

Prosecutors say the State Property Fund (FPS), the majority shareholder in CNM Petronim SA, had approved the sale within the privatization. The DNA argues the decision to sell the fleet was not the Ministry of Transport's, but rather the State Property Fund's and CNM Petromin SA shareholders'.

editor@romania-insider.com