The European Commission has opened an investigation into debt waivers granted by Romania to Petrotub in 2003, when the company was privatised and sold to Mittal Steel. Petrotub subsequently became Mittal Steel Roman, a producer of pipes and tubes located in Roman, Romania. In the context of the privatisation, various public authorities agreed to waive outstanding debts of around EUR 25 million and to reschedule debts of EUR 0.52 million. The Commission believes these measures could constitute State aid. It also doubts whether they were economically more advantageous to the State than the liquidation of the company. The Commission claims that it has the right to assess this case on the basis of the Romanian Accession Treaty, even though these debt waivers were granted before Romania's accession.