Widespread Protests in Moldova in Response to $1 Billion Embezzlement

Tens of thousands of people in Moldova protested on Sunday in the capital city of Chisinau, demanding the resignation of President Nicolae Timofti and new elections. According to Radio Free Europe/Radio Liberty, protesters set up tents in the central square on Monday, September 7, and stated they would continue their protests until their demands were met. The widespread protests were triggered by the revelation of a $1 billion embezzlement in the country's banking system, which has put this former Soviet republic and one of Europe's poorest countries at risk of bankruptcy. Protesters are also calling for the removal of senior officials from the central bank and the attorney general. Police estimated that around 60,000 people participated in the protests outside government buildings in central Chisinau, chanting slogans such as 'Death to the oligarchs' and 'Give our country back.' During part of the protests, police clashed with supporters of a leftist group called the Red Bloc, who were marching towards the attorney general's office. According to Interfax news agency, police arrested several individuals, and some protesters were injured, with one hospitalized. After the protests ended on Sunday, a grassroots group called 'Dignity and Truth' set up about 30 tents in the main square. Organizers of the protests, including former parliament member Valentin Dolganiuc, stated that these tents would serve as a center for further protests until the protesters' demands are met. Shortly before the parliamentary elections in Moldova in November 2014, about $1 billion, equivalent to 12% of the country's GDP, disappeared from Moldovan banks. The disappearance of this money caused the national currency's value to plummet, inflation to rise, and the standard of living to decline. Valeriu Strelet, the Prime Minister of Moldova who advocates for closer ties with the European Union, promised to fight financial corruption after taking office in July. He told protesters that he would consider their demands. In August, he also stated in an interview with Reuters that his government would try to locate the missing money and return it to Moldova. According to AFP, the number of protesters ranged from 50,000 to 100,000, with their main demand being the president's resignation. Protest representatives have submitted their demands to the new Prime Minister. Last year, despite opposition from Russia, the Moldovan government signed a closer cooperation agreement with the European Union, marking a significant step towards EU membership for this small country located between Ukraine and Romania. In response to this agreement, the Russian government immediately banned fruit imports from Moldova. Thousands of Russian soldiers are stationed in the breakaway region of Transnistria, which has separated from Moldova. About 180,000 of the half-million population in this impoverished region are Russian citizens, and Moscow has been providing financial assistance to this region for years.