Prime Minister Ion Chicu said Parliament is the one that will decide if the moratorium on the Citizenship by Investment Program that expires this week should be extended or not. If the law is annulled, the damages that are to be paid from the state budget will be rather large, IPN reports.

After the meeting of senior state officials, the Premier told the press that a meeting was held last week following the assessment of all the risks and advantages of this law. “As you know, the Government, in accordance with the law, can no longer extend the moratorium. It is within the Parliament’s remit to do this now,” stated Premier Chicu.

He noted that if the law is annulled, rather large damages will have to be paid from the state budget. He avoided yet specifying the amount, noting the sum is decided by arbitration.

The official also said that five persons obtained citizenship by investment so far and €500,000 was transferred as a result, but this money hasn’t been yet spent. There are 22-25 applications that are yet to be examined, but it depends on the Parliament’s decision already.

The moratorium on the obtaining of citizenship by investment was instituted on August 23 for a period of four months. By a Government decision of December 20, the moratorium was extended for another two months.