On Thursday, Maia Sandu, the country’s president, revealed that the exchange rate of the Moldovan Leu would no longer be linked to the dollar. 

"More than 60 percent of our trade and 70 percent of our transfers are made in euros, so this step will strengthen our ties with the EU and increase the stability and predictability of the whole of Moldova," Sandu wrote on X. 

According to the Central Bank of Moldova, making the euro the reference currency will reduce the fluctuations of the Moldovan Leu against the euro and the difference in the buying and selling rates of the EU currency. 

Moldova also intends to join the Single Euro Payments Area (SEPA) in 2025, the Polish Press Agency (PAP) reported. 

Moldova has been in an energy emergency since December 16 due to the suspension of Russian gas deliveries through Ukraine. Russia suspended the flow of gas transiting Ukraine to Europe on Wednesday morning after a five-year agreement between Moscow and Kyiv on gas transit expired. The Kyiv authorities said the flow of Russian gas had been suspended for the sake of state security. 

Moldova has so far received around 2 billion cubic meters of Russian gas per year, delivered to the separatist Transnistria region. The rest of Moldova has not been dependent on gas from Russia since 2023, buying it instead on European and global markets.  

However, the Cuciurgan power plant in Transnistria, which has so far used Russian gas, provides around 80% of the electricity supply for the rest of the country.