[dh2022]

Well I lived in Romania in the 1980s so I feel compelled to respond to this.

Romanian leadership took a lot of loans from the West and spend the money on large industrial projects with Western technology which was either obsolete or becoming obsolete (Dacia-Renault, Olcit-Cytroen, CANDU for the nuclear energy, Rombac-British Aircracft, etc...)

This was a huge bet that did not work - but it was all done by Romanian Leadership. The West did not ask Romania to borrow, Romania asked to borrow. When the bills came due at the end of 1970s Romania asked to roll over their debt. Unfortunately for Romania at the same time US FED (Volcker) was raising the interest rates sharply to combat inflation. So rolling over the debt was very expensive. This was not economic sanctions aimed at Romania - this happened to every borrower that had USD debts (including regular people in the US).

Romania choose to pay the debts and the only way to get USD was to sell resources - because the industrial products were obsolete and nobody in the West wanted to buy. So Romania sold food and whatever oil they still had and whatever steel they still had. For the Romanian people that meant food shortages, heat shortages, electricity shortages...

This was done by Romanian leadership. It was not economic sanctions from the West.