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Romanian Competition Law Update: Q4 2025
The final quarter of 2025 marked a period of significant competition law developments in Romania, with enforcement actions focusing on vertical restraints and “no-poach” agreements, alongside important merger control decisions in markets such as retail and energy, as well as the launch of a draft Government Emergency Ordinance amending Competition Law No. 21/1996 (“Competition Law”), aimed, among others, at aligning the Romanian legal framework with OECD recommendations. I. Latest updates Draft Government Emergency Ordinance amending the Competition Law In November 2025, the Romanian Competition Council (“RCC”) launched a public consultation on a draft Government Emergency Ordinance aimed at
FDI remedies: EU trends and Romania’s emerging practice
As EU Member States increasingly rely on conditional approvals rather than outright prohibitions in FDI screening, remedies have steadily become more of a deal-shaping instrument rather than a purely theoretical risk. Conditions attached to FDI clearances are more routinely used to address national security and public order concerns while preserving transaction viability. Against this backdrop, the Romanian FDI authorities have signalled greater willingness to clear transactions subject to commitments, which has made Romania stand out, particularly compared to some other jurisdictions in the region. Therefore, understanding how remedies could be set up becomes essential for investors seeking predictability and effective
Competition Law Update in Romania: Q3 2025
The Romanian Competition Council (“RCC”) remained highly active throughout the third quarter of 2025, advancing its enforcement and policy agenda across multiple fronts. Highlights include the adoption of Romania’s first foreign direct investment (“FDI”) guidelines, the launch of a public consultation on urban utility approvals, and intensified merger control and antitrust activity across the telecom, retail and agribusiness sectors. These efforts are reinforcing the RCC’s commitment to safeguarding competition in strategically important markets. I. Latest Updates FDI Guidelines On the FDI screening front, Romania adopted its first set of investment screening guidelines (“FDI Guidelines”)
Romania: Mid-year Competition Law Update
The second quarter of 2025 marked a dynamic period for competition law in Romania, driven by significant legislative developments, a surge in merger activity, and the launch of several new investigations. In this Competition Law Update, we highlight the key developments and explore their potential implications for the remainder of the year. Latest Updates Legal privilege-related amendments to Romanian Competition Law As of 26 June 2025, the Romanian Competition Council (“RCC”) operates under updated procedural rules concerning the treatment of communications claimed to be protected by legal professional privilege (“LPP”) during dawn raids. These changes stem from the enactment of Law No. 111/2025
Romania fine tunes procedure on treating allegedly privileged communication during dawn raids
The Romanian Parliament has amended Competition Law no. 21/1996 (the "Competition Law") through Law No. 111/2025 approving Government Emergency Ordinance No. 99/2024, amending and supplementing certain legislative acts in the field of competition ("Law 111/2025"). Effective 26 June 2025, the Romanian Competition Council (the "RCC") has received refined procedural guidance for handling communications claimed to be protected by legal professional privilege ("LPP") during dawn raids. Law 111/2025 amends, among others, Art. 38 paras. (9) and (11) of the Competition Law, replacing the July 2024 version, itself introduced to fix a highly questionable earlier formulation which had controversially allowed RCC inspectors to read
Dive into the latest competition law updates in Romania
In the first quarter of 2025, the Romanian Competition Council (“RCC”) published several significant decisions, launched new investigations, and imposed fines in cases involving abuse of dominant position, price coordination, and other anticompetitive practices. 1. New FDI Guidelines In February the RCC published the draft FDI guidelines (the “Guidelines”), which were up for public consultation until mid-March. The Guidelines aim to clarify the method for the calculation of the investment value in different types of transactions, such as share deals, share capital contributions, multi-jurisdictional transactions, or in case of a loan or financing by an investor. Furthermore, the Guidelines clarify
The Romanian Competition Council revamps its guidelines on issuing guidance letters
On 11 September 2024 the Romanian Competition Council’s (“RCC”) Order no. 2436/2024 implementing the Guidelines on informal guidance on novel or unresolved questions arising in individual cases concerning the application of Art. 5 and 6 of the Romanian Competition Law No. 21/1996 (the “Competition Law”) was published in the Official Gazette of Romania and entered into force (the “Guidelines”). Art. 5 and 6 of the Competition Law represent the local-law equivalents of Art. 101 and 102 of the Treaty on the Functioning of the European Union and deal with the prohibition of agreements that restrict competition and, respectively, abuse of dominance. The Guidelines replace the previous RCC note on the matter