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This is mostly incorrect. They all had the same status, that of vassal principalities, with own laws, economy, ruling class and army.
Their rulers, when present at the Sultan's court, had the same rank, that of the Grand Vizier. However, when the Phanariote agreement was reached (18th century), Wallachia and Moldova lost their ability to have a dynastic ruler (and their rank at the court decreased as well, I think, but I don't know precisely - certainly, the Phanariotes didn't wear a crown, unlike the previous princes). Nonetheless, the ruler had to be from a princiary family.
In the 19th century, both Romanian principalities became Russian protectorates (with Russian armies stationed on their territory) which made them even less dependent on the Ottomans.
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