May 19, 2026 UPDATE
A roundup of local and international news.
Newsroom, 19.05.2026, 20:00
EUROPEAN ORDER – The President of the Republic of Moldova, Maia Sandu, received the European Order of Merit on Tuesday in Strasbourg, during a ceremony held in the plenary session of the European Parliament. The distinction was awarded in recognition of her commitment to integrating her country into the European Union and for strengthening Moldova’s resilience against hybrid threats, disinformation, and attempts at destabilization. Maia Sandu stated that the European Order belongs to the citizens of the Republic of Moldova, those who chose Europe despite all difficulties, and called for this merit to be honored in a way that helps the country continue moving forward. Among the laureates are former German Chancellor Angela Merkel, former Polish President Lech Wałęsa, and Ukrainian President Volodymyr Zelensky, all recognized as distinguished members. The Order was established to mark the 75th anniversary of the Schuman Declaration, which laid the foundations of European unity. It is the first European distinction of its kind awarded by EU institutions and complements national honors by acknowledging efforts to strengthen Europe as a whole.
INFLATION – The National Bank of Romania (BNR) estimates that inflation will continue to rise in the second quarter, before easing toward 5.5% by the end of the year, above the previous forecast, Governor Mugur Isărescu said on Tuesday during the presentation of the inflation report. The BNR governor emphasized that the future path of inflation will depend on developments in the Strait of Hormuz and on Romania’s political stability. Regarding the leu’s exchange rate, Isărescu noted that the central bank has intervened far less in the foreign exchange market recently than it did in April–May of last year, adding that the current level appears to be a balanced one for the moment. He also highlighted the importance of investment, especially those financed through European funds, which can contribute positively to economic growth. According to the latest statistical data, annual inflation reached 10.7% in April, the highest level in recent months.
DRONE – The Romanian Ministry of National Defence has confirmed that a Romanian F 16, deployed on a NATO Enhanced Air Policing mission, shot down a Ukrainian drone on Tuesday in Estonian airspace. The drone had entered Estonia from the direction of Russia and lost navigation due to Russian jamming. Kyiv apologized for the incident, which occurred amid intensified Ukrainian drone strikes on infrastructure in Russia’s Leningrad region. The Romanian detachment Carpathian Vipers, made up of around 100 troops and six F 16 Fighting Falcon aircraft, is stationed in Lithuania at the Šiauliai Air Base in the north. It is carrying out Enhanced Air Policing missions between April and July 2026. This marks the Romanian Air Force’s fourth deployment to Lithuania, where it has contributed to protecting the airspace of the Baltic States and NATO. Since March, several Ukrainian military drones have strayed into the airspace of NATO member states Finland, Latvia, Lithuania, and Estonia, all of which border Russia.
INVESTMENT – Romania has climbed in the ranking of Europe’s top investment destinations, becoming, together with Poland, one of the most attractive markets in the region for international investors, according to the PwC Global CEO Survey 2026. Compared with the previous edition, Romania has risen from 13th to 9th place in Europe, and from 33rd to 28th globally, at a time when 51% of business leaders worldwide say they plan international expansion this year. Romania has surpassed countries such as Portugal, Switzerland, Belgium, and Greece, states with long-standing reputations for attracting international capital. According to the report, between 2014 and 2024 the cumulative stock of foreign direct investment in Romania doubled, increasing from 62 billion euros to 125 billion euros. The analysis also notes that Romania still has several areas where it needs to catch up with other European states. Medium term objectives that could strengthen its position as an attractive economy include joining the OECD, which could happen as early as this year, and completing the implementation of the National Recovery and Resilience Plan (PNRR).
SCULPTURE – In the Constantin Brâncuși Year, marking 150 years since the sculptor’s birth, one of his works set a new record on the international art market on Monday evening at Christie’s in New York. Danaida, created in 1913, a bronze head with a brown patina and gold leaf, was sold for 107.5 million dollars, becoming the second most expensive sculpture ever auctioned. The previous record for a Brâncuși work was 71.2 million dollars, achieved in 2018 for The Sophisticated Young Lady (Portrait of Nancy Cunard). To draw broader public attention to both the sculpture and the auction, Christie’s relied on a high profile presence: actress Nicole Kidman. In a nearly two minute video, she posed, danced, and admired Brâncuși’s Danaida.
RATING – The financial rating agency Fitch Ratings is warning Romania about risks stemming from political instability, delays in implementing National Recivery and Resilience Plan (PNRR) reforms, and external pressures on the economy, and the coming months will be decisive, acting Finance Minister Alexandru Nazare said. Fitch notes that the main risk is not short term budget execution, but the lack of predictability regarding the fiscal strategy for 2027 and the years that follow. The agency’s next assessment report for Romania will be published in July.
CONSULTATIONS – President Nicușor Dan held consultations on Monday with the political parties and parliamentary groups regarding the nomination of a candidate for prime minister to form the new government, following the Bolojan Cabinet’s dismissal through a no confidence vote. After the meetings, he announced that he would continue discussions with the parties until a solid, pro Western majority takes shape, calling on them to act responsibly in order to reach common ground. The PSD rejected the idea of a new government led by Ilie Bolojan, while AUR stated it is prepared to take on governing responsibilities but also raised the possibility of early elections. The PNL no longer wishes to govern alongside the PSD, and USR said it will move into opposition if the PSD manages to secure a parliamentary majority to form the next government. The UDMR believes that efforts should be made to rebuild the former governing coalition.
CANNES – Fjord, the new film by Romanian director Cristian Mungiu, received a 12 minute standing ovation on Monday evening, the longest applause so far at the 2026 Cannes competition, now nearing its halfway point. Among those in attendance were well known figures such as Sharon Stone, Carla Bruni, Demi Moore, and Stellan Skarsgård. Fjord stars Romanian American actor Sebastian Stan and Norwegian actress Renate Reinsve in the leading roles. This is Mungiu’s seventh film to be screened in the Cannes competition, and his impressive track record has firmly established him as one of Europe’s most influential filmmakers of the past two decades. Cristian Mungiu won the Palme d’Or in 2007 for 4 Months, 3 Weeks and 2 Days, the Best Screenplay Award in 2012 for Beyond the Hills, and the Best Director Award in 2016 for Graduation. (EE)
