SovRom
Sign in to saveThe SovRoms (plural of SovRom) were economic enterprises established in Romania following the communist takeover at the end of World War II, in place until 1954–1956 (when they were dissolved by the Romanian authorities).
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Article
7 sectionsContents
- History
- Creation, structure, and effects
- Ending
- See also
- Notes
- References
- External links
The SovRoms (plural of SovRom) were economic enterprises established in Romania following the communist takeover at the end of World War II, in place until 1954–1956 (when they were dissolved by the Romanian authorities).
In theory, SovRoms were joint Romanian-Soviet ventures aimed at generating revenue for reconstruction, and were created on a half-share basis in respect to the two states; however, they were mainly designed as a means to ensure resources for the Soviet side, and generally contributed to draining Romania's resources (in addition to the war reparations demanded by the armistice convention of 1944 and the Paris Peace Treaties, which had been set at 300 million United States dollars—see Romania during World War II). The Soviet contribution in creating the SovRoms lay mostly in reselling leftover German equipment to Romania, which was systematically overvalued.