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,[1] and were created on a half-share basis in respect to the two states;[2] 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,
[3] which had been set at 300 million
United States dollars[4]—
seeRomania during World War II). The Soviet contribution in creating the SovRoms lay mostly in reselling leftover
German equipment to Romania, which was systematically overvalued.
[5]