Romania has established financial guarantee requirements for certain companies applying to become authorised CBAM declarants, creating an additional financing consideration for newer import businesses entering the EU’s Carbon Border Adjustment Mechanism.
The measure is set out in Finance Ministry Order 1,188, dated 2 September and published on 10 September. It applies to applicants that were not established during the two financial years preceding the year of application and implements guarantee provisions under the EU framework for CBAM authorisation.
The rules are particularly relevant to newly incorporated trading companies and recently established import subsidiaries. A newer legal entity within an established corporate group cannot automatically assume that the operating history of its parent company eliminates requirements applicable to the applicant itself.
Guarantee calculations linked to expected imports
The amount of the financial guarantee is assessed in relation to expected imports, with factors including the classification of the goods and their country of origin taken into account.
The procedure therefore does not establish a single fixed guarantee applicable to every applicant. The financial exposure is determined on a case-by-case basis according to the anticipated import activity.
The guarantee is denominated in euros. The procedure also allows the amount to be adjusted if it subsequently becomes insufficient and provides for its release once the applicable compliance conditions have been fulfilled.
CBAM Pulse highlighted these operational requirements in an update published on 1 October.
Banking capacity becomes part of CBAM preparation
For affected importers, the requirement can have a direct financing impact before the company’s first annual CBAM settlement. Businesses may need to allocate banking capacity or collateral to support the guarantee.
The instrument is intended to protect the public authority against non-compliance. It should not be treated as the purchase or surrender of CBAM certificates.
The Romanian order also does not alter the embedded emissions of imported goods or introduce a new national carbon tax. Its effect is instead on the authorisation process and the financial security supporting participation in the CBAM regime.
New importers face an additional planning requirement
Companies entering the market will need to assess their import forecasts and guarantee arrangements together when preparing for CBAM authorisation.
A business can have an established supply contract while still requiring additional financial capacity to secure the authorisation needed to carry out the associated imports under the CBAM framework.
