Traian Basescu

Romania's President Traian Basescu asked Prime Minister Victor Ponta to revoke a fuel excise coming into force on April 1.

In a letter, Basescu wrote that introducing the excise would "put an exaggerated and pointless pressure on the economic environment and on the consumers," as Romania's AGERPRES quoted him as saying.

With less than two months to go before European elections, the parties in Romania have designated their candidates for the elections on 25 May, offering most of the positions to standing MEPs.

Romania will have 32 mandates in the future European Parliament, compared to 33 at present.

Romania will support any sanctions proposed by the European Union against Russia following the controversial referendum in Crimea, President Traian Basescu said on Monday.

Basescu is to join a meeting of EU heads of state and government on March 21 in Brussels, where European leaders are to piece together a response to the unfolding crisis in Ukraine.

Ukraine's neighbor Romania has offered to mediate between Kiev and Moscow, with the country's President Traian Basescu proposing to lead those negotiations.

Romania and the International Monetary Fund (IMF) have agreed on a USD 4 B loan to Bucharest.

The credit package deal was struck after President Traian Basescu gave his approval, as Bulgarian website Investor.bg reports.

Basescu has long resisted the agreement as it forces Romania to impose an excise tax for fuels at EUR 0.07 per liter.

Fears that President Traian Basescu might hold up the formation of Romania’s new government ended on Wednesday when the 17 members of the reconfigured cabinet finally took their oath in the Cotroceni palace.

As fresh fighting broke out in Kiev on Thursday, and as the death toll rose, Romania's President expressed concern and called for a peaceful solution to the crisis in neighboring Ukraine.

“I am not supporting economic sanctions against Ukraine, but severe sanctions are needed against those responsible for the excessive use of force in Kiev,” President Traian Basescu said on Thursday.