The court annulled the election due to concerns over Russian interference, based on findings from Romanian security agencies.
The ruling canceled the runoff vote scheduled for Sunday and mandated a rerun of the first round, which might not happen until next year.
Romanian Prime Minister Marcel Celac supported the decision, calling it the correct move.
Elena Lascone criticized the decision, arguing that it denied Romanians the chance to vote in the runoff.
Georgescu's supporters may view the ruling as evidence of a biased 'deep state' against their candidate, fueling their sense of injustice and rallying support.
Georgescu's supporters argue that the ruling was politically biased, given that the court judges are nominated by parliament and the presidency, similar to the U.S. Supreme Court.
The extra time could allow Lascone to devise a strategy to counter Georgescu, possibly giving her an advantage over the Social Democrat candidate who she previously beat.
Georgescu's policy to remove funding for Ukraine could become a significant issue, especially if opponents highlight his alignment with Russia.
The leader of the hard-right party Uniting Romanians branded the ruling a coup d'etat, accusing the judges of fearing an outsider candidate.
In a move that nobody saw coming, Romania's top court has ruled the first round of its presidential election, which saw a Pro-Putin rank outsider become favourite for the presidency, void over Russian interference. For the background listen to yesterday's episode, as Tom Kington returns to analyse the decision that might scupper the chances of Calin Georgescu becoming a Putin-lapdog president of a NATO nation.
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