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In the given situation you encounter a level crossing with a current railway provided with barriers and automatic signalling installation, the intermittent white light signal with slow cadence is in operation, therefore you can cross the railway, but you must drive with reduced speed and make sure that from the left side or from the right side no railway vehicle is approaching.

The correct answer is: C

Recommendations:

The complete explanation of the sign --> Level crossing with a simple railway with half-barrier, provided with warning light signals for the approaching train

The obligations of the drivers of vehicles at the Railway, depending on its type - Audio-Video Lesson --> Road Traffic Code - Level crossing with the railway

OUG* - Article 60

(1) The participants in traffic must show increased prudence when approaching and crossing the lines of a current or industrial railway, as the case may be.
(2) At the level crossing with a current railway provided with barriers or half-barriers, the drivers of vehicles are obliged to stop at the sign that obliges stopping, if these are in the process of descending or in horizontal position and/or the sound and light signals that announce the approaching train are in operation.
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Regulation** - Article 69

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(2) At the level crossing with the current railway provided with automatic signalling installations without barriers, the prohibition of road traffic is achieved, optically, by the operation of the devices with intermittent-alternative red lights and the extinguishing of the control signalling represented by intermittent white light and, acoustically, by the emission of intermittent sound signals.

Regulation** - Article 70

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(4) At the level crossing with the railway provided with automatic signalling installations with barriers, the signalling of the prohibition of road traffic is achieved in the conditions provided at art. 69 paragraph (2), as well as through the descending in horizontal position of the half-barriers.

Regulation** - Article 71

(1) The signalling of the prohibition of road traffic is considered achieved even in only one of the following situations:
a) by the lighting of a single luminous unit of the device with intermittent-alternative red light;
b) by the operation of the sound system;
c) by the horizontal position of a single half-barrier.
(2) Road traffic is also considered prohibited in the situation where the barriers or half-barriers are in the process of descending or rising.

Regulation** - Article 136

(1) At the level crossing with the current railway, the driver of the vehicle is obliged to drive with reduced speed and to make sure that from the left side or from the right side no railway vehicle is approaching.
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Regulation** - Article 137

(1) The driver of the vehicle may cross the current railway provided with barriers or half-barriers, if these are raised and the light and sound signals are not operating, and the intermittent white light signal with slow cadence is in operation.
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Regulation** - Article 138

(1) The driver of the vehicle is obliged to stop when:
a) the barriers or half-barriers are lowered, in the process of descending or rising;
b) the signal with red lights and/or the sound signal are in operation;
c) he encounters the sign "Level crossing with simple railway, without barriers", "Level crossing with double railway, without barriers" or "Stop".
(2) The vehicles must stop, in the order of arrival, in the place where there is maximum visibility over the railway without passing the signs provided in paragraph (1) letter c) or, as the case may be, before the stopping marking or before the barriers or half-barriers, when these are closed, in the process of descending or rising.

* OUG = GOVERNMENT EMERGENCY ORDINANCE no. 195 of December 12, 2002 updated (Road Traffic Code)
** Regulation = REGULATION for the implementation of OUG 195/2002 updated (Road Traffic Code Regulation)