Will Romania ever reclaim its gold treasure from Moscow?

The European Parliament is calling on Russia to return Romania's national treasure, illegally appropriated over a century ago

Ştefan Stoica, 15.03.2024, 14:00

“An unparalleled international case of illegal appropriation of gold reserves and heritage objects and a matter of perpetual concern to Romanian society”, is how the European Parliament defines this long-running problem in a resolution passed on Thursday. During the Great War, the Kingdom of Romania entrusted its gold treasure to Tsarist Russia for safekeeping, but only a small part of it has since been returned. In the resolution, MEPs call on the Russian Federation to fully return to Romania the remainder of Romania’s national treasure that was sent to Russia in 1916 and 1917. European People’s Party MEP Eugen Tomac, who spearheaded this initiative in the European Parliament, was supported in his endeavor by all his Romanian peers.

“We’re talking about heritage paintings, items of jewelry, objects of value from Romania’s churches and monasteries or the archives of public institutions, as well as over 91.5 tons of fine gold from the gold reserves of the National Bank of Romania. Part of these cultural and religious goods were returned in the Soviet period, but Romania’s gold treasure is to this day withheld by Russia”.

In turn, Rovana Plumb with the Progressive Alliance of Socialists and Democrats explained what this initiative seeks to achieve.

“We want the public and European decision-makers to know about this specific problem. We are creating a context to start negotiations between the EU and Russia, at the end of Russia’s war of aggression in Ukraine, to include the return of Romania’s gold treasure on the EU’s agenda”.

Debates on Romania’s gold treasure appropriated by Russia point to the historical trauma experienced by Romanian citizens, says Dacian Cioloș, member of Renew Europe.

“I hope this debate will help us understand that Russia’s unscrupulousness must be answered with firmness. Firm measures against Putin’s Russia, including economic sanctions and freezing the assets of his regime without delay, are justified measures in this respect. Romania has already paid the price of dictatorship and Russia’s imperialism, and it should serve as a lesson for Europe today”.

European Commissioner for Cohesion and Reforms, Elisa Ferreira, said that Romania transferred its gold treasure to Tsarist Russia during the Great War for safeguarding, but it was never fully returned, neither by the USSR, nor the Russian Federation. The EU is ready to assist Romanian authorities in their efforts to fully reclaim the national treasure if they should so request, Commissioner Ferreira added. For the time being, political dialogue and mechanisms for cooperation with Russia are suspended due to the war. Moscow’s constantly low appetite for dialogue, which has been tragically confirmed today, leaves little room for optimism regarding the return of Romania’s treasure, the EU official said. Nevertheless, the European Parliament’s resolution is instrumental in providing this historical dispute between Bucharest and Moscow with an international setting. (VP)