August 23, 1944, is the date of "King Michael's Coup" when the armies of Romania switched sides and started fighting on the side of the advancing Soviet armies instead of fighting against them.
Elements of the design include flags reminiscent of the Soviet and Romanian flags; a torch; cogwheel and grain (representing industry and agriculture); refineries; the sculpture "Infinite Column" by Constantin Brâncuși; a cooling tower; a dam; and an electrical transmission tower.