Something I've always wondered is what plans the Germans had for this territory if they had won ww1.
Ethnically it was mostly Romanian, but Romania was an enemy of Germany so would Germany still allow them to take over? (Assume Romania is defeated in this timeline)
I believe Ukraine claimed the area and Germany seemed interested in making the new Ukrainian state pretty powerful.
Bulgaria wanted the coastal area but not the interior, could they perhaps have seized that part?
Alternatively Germany could have tried proping it up as either an independent state or a puppet to them (the line may very well be blurry), considering there was a minority of Bessarabian germans they would perhaps be enpowered in the area and further settlement be encouraged. It would give Germany access to a black sea port in the form of Odessa.