Sir,

The Commission wishes to inform Romania that, having examined the information supplied by your authorities on the measure referred to above, it has decided to initiate the procedure laid down in Article 108(2) of the Treaty on the Functioning of the European Union (TFEU). 

1. PROCEDURE 

(1) By Award of 11 December 2013 (‘the Award’), the Arbitration Tribunal established under the auspices of the International Center for Settlement of Investment Disputes (‘ICSID’) decided in favour of the five claimants (‘the claimants’) in the case Micula a.o. v Romania1 and ordered Romania to pay RON 367 433 229 (ca. EUR 82 million2) as damages for failing to ensure a fair and equitable treatment of the claimants’ investments and thus violating Article 2(3) of the Romania – Sweden Bilateral Investment Treaty3 (‘the BIT’). In addition, the Tribunal ordered Romania to pay interest until full payment of the Award. By 11 December 2013, the total amount owed by Romania to the claimants amounted to RON 791 882 452 (ca. EUR 178 million4).