Economic resilience in Eastern Europe increasingly hinges on how cross-border corporate structures and capital markets allocate risk across national borders. Focusing on Romania and the Republic of Moldova, this paper analyses in what sense Romania functions as a financial and infrastructural “anchor” for Moldova, and to what extent Romanian institutional capital actually internalizes Moldovan risks. We concentrate exclusively on Romanian listed companies to trace the financial exposure of domestic institutional investors, especially pension funds, to Moldova’s banking and energy systems. Conceptually, we distinguish between operational anchoring—who operates Moldova’s critical infrastructures—and capital anchoring—who ultimately bears the associated risks through ownership and governance rights. Empirically, using corporate disclosures and sectoral data for BSE-listed issuers such as Banca Transilvania (indirectly via Victoriabank), Transgaz/Vestmoldtransgaz and Premier Energy, we construct two composite measures: an Operational Critical Infrastructure Anchor Index (CIAIᵒᵖ) and a Romanian-Capital Anchor Index (CIAIᴿ). For 2023, CIAIᵒᵖ indicates that roughly 53% of Moldova’s banking, electricity and gas “system mass” is operated by Romania-linked entities, while CIAIᴿ shows that only about 34% of that mass is actually financed and controlled by Romanian capital, with a particularly large gap in the electricity sector. The findings suggest that cross-border corporate ownership and pension-fund participation create powerful but asymmetric channels of resilience, with Romania acting as a dominant operational anchor but a more partial capital anchor in the Romania–Moldova corridor. We have concentrated our research exclusively to the Bucharest Stock Exchange listed entities as we consider them impactful in context