March 10, 2026
A roundup of local and world news
Newsroom, 10.03.2026, 13:55
CONFERENCE Romania’s President, Nicusor Dan, on Tuesday participates in a videoconference entitled ‘Friends of Competitiveness’ on coordination in the interior market and competitiveness in view of preparing the upcoming European Council proceedings over March 19 and 20. On Monday he held talks with Antonio Costa, the European Council President, which focused on Romania’s priorities ahead of the aforementioned meeting. The Head of the Romanian state said that Romania wants a completely integrated single market as well as significantly simplified bureaucracy and administrative burdens. During the phone call, the two leaders also focused on the future European budgetary framework. The EU budget must ensure relevant funds for increasing competitiveness including in the area of the eastern states, including Romania, countries with a historic gap in terms of development, as compared to the other member states, Nicusor Dan believes.
WAR US President Donald Trump claims the war on Iran will be over very soon, but not this week. The White House leader says that military operations have caused heavy losses to Iran’s air and naval forces and the war might end before the initially set period of four-five weeks. President Trump says the US will step up its attacks if Iran blocks the Strait of Hormuz. The Revolutionary Guard Corps, Iran’s ideological army says that no oil will leave the region until the US and Israeli attacks cease, adding they will decide when the conflict ends, the AFP reports.
OIL The price of Brent crude from the North Sea on Tuesday went down to 93 dollars a barrel after its Monday’s spike of 119 dollars, the highest since July 2022, amid fears that a protracted war in the Middle East could severely disrupt energy markets and affect global economic growth. Yesterday the price of European gas went up by 30%, but it remains considerably low as compared to the level it reached in 2022, following the Russian invasion of Ukraine. The war on Iran has led to the suspension of a fifth of the global gas and crude deliveries, after Iran blocked maritime transport through the Hormuz Strait and launched attacks against the energy infrastructure in the region. According to France Press, the G7 Finance Ministers have failed to reach a decision on the possibility of using strategic crude reserves to help stabilize the market. An EU spokesperson says that the EU members have enough gas and crude reserves and there are no signs of an emergency situation.
BUDGET Leaders of the ruling coalition in Bucharest are again meeting this afternoon to work on the last details of the state budget bill in 2026, before its endorsement by the Executive. This lays emphasis on reforms and investment but also on fiscal responsibility. According to the Finance Ministry, the investment proposed is amounting to around 33 billion Euros, 27 billion more than last year, a clear signal that development remains a priority even against the latest efforts of curbing the budget deficit. According to Liberal Prime Minister Ilie Bolojan, the future bill was built on a deficit target of 6.2% of the GDP, being realistic and balanced, with well-defined funding sources.
PRICES At petrol stations in Romania diesel went up by 0.10 RON per litre to 9.40 RON (1.85 Euros) as compared to last week. Petrol went up by 0.5 RON and many gas stations are selling standard petrol for 8.37 and premium for 9.10 RON. The country’s Energy Minister, Bogdan Ivan, has recently said that the government is considering several scenarios to prevent any more price hikes in fuel, which it presented to the Finance Minister and to Prime Minister Bolojan. Some of these include the idea of cutting excises and taxes in fuel for a limited period of time. In turn, the country’s president, Nicusor Dan, says there is no need to intervene on changing excises and taxes on fuel yet.
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