The data mentioned is contained in the 2025 Activity Report of the Council for the Examination of Investments of Importance to State Security (CEIISS). The document is scheduled to be presented on Wednesday, June 10, during the meeting of the Committee on National Security, Defense, and Public Order.
This report indicates an increase in the total number of decisions compared to 2024, marked by a higher number of rejections and conditional approvals, amid pressure from international sanctions.
The activity focused primarily on strategic sectors, such as energy infrastructure, transportation, communications, and critical real estate assets. A significant number of applications came from the renewable energy sector, where companies with capacities exceeding 5 MW are required to obtain prior approval. Airport infrastructure was also a focal point, with companies operating at Chișinău International Airport and Mărculești International Airport being reviewed. At the same time, the Council identified 69 cases where the requests concerned activities that do not pose a risk to national security, and were therefore exempt from the law’s application.
The main grounds for the refusal decisions concerned a lack of transparency regarding the shareholder structure and the source of capital, the applicants’ involvement in criminal cases related to money laundering or terrorist financing, and their presence on international sanctions lists (EU, UN, etc.). In the case of “LUKOIL-MOLDOVA” SRL, after the company failed to comply with the obligation to divest the “Aeroport” oil complex and did not modify its corporate structure to exclude entities sanctioned by OFAC, CEIISS refused to grant prior approval. Subsequent measures included the imposition of a fine of 5% of turnover, the suspension of operations in strategic sectors, and the forced transfer of the oil complex to state ownership through foreclosure.
The review process highlighted technical difficulties caused by complex, multi-jurisdictional corporate structures. The report notes the need for regulatory clarification regarding the IT sector and dual-use technologies to eliminate ambiguities in risk assessment. At the same time, it notes the need to update the legal framework following the repeal of Law No. 618/1995 on state security, in order to align the review criteria with the current risks outlined in the legislation governing the Intelligence and Security Service.
