MercoPress. South Atlantic News Agency
US government sides with Repsol in the YPF assets seizure with Argentina
United States sided with Spain's Repsol position in the dispute over the seizure of a majority stake in YPF by the administration of Argentine President Cristina Fernandez last year, a dispute which remains unresolved over compensation for the assets. Read full article
Comments
Disclaimer & comment rulesThis must be the first practical expression of Kerry's reversal of the Monroe Doctrine.
Nov 19th, 2013 - 09:18 am - Link - Report abuse 0Pretty realistic, too. We can't have any old country going around expropriating oil company assets ... especially when most of them are American!
Ok Gallegos you have the support of... of... of...ah! Ernest Moniz...
Nov 19th, 2013 - 10:19 am - Link - Report abuse 0And??????
Who cares?
It's alright Dany, now that you have moved all your assets to Argentina, you too can look forward to having them nationalised.
Nov 19th, 2013 - 10:36 am - Link - Report abuse 0Hope all your savings are in US dollar bank accounts…. they'll go first.
But who will care?
Once the codigo civil is altered, nothing will be safe .
Nov 19th, 2013 - 04:14 pm - Link - Report abuse 0@1 I don't think the MD has much to do with this. It doesn't matter if the company seized is rightfully owned by Spaniards, Californians or Martians.
Nov 19th, 2013 - 04:40 pm - Link - Report abuse 0But, but, TMBOA snatched it from Repsol because they weren't getting the oil out!
Nov 19th, 2013 - 08:39 pm - Link - Report abuse 0She said they would do better!
DOH!
The Americans just nationalized a building held by Iran.
Nov 20th, 2013 - 03:31 am - Link - Report abuse 0They have NO credibility whatsoever. Best Argentina keep on as it has, by ignoring the Americans.
So nationalising Foreign property is bad then?
Nov 20th, 2013 - 07:16 am - Link - Report abuse 0Yes, Anglotino, it is not nice and it upsets people ;-)
Nov 20th, 2013 - 09:59 am - Link - Report abuse 0The trouble is, nationalising foreign property means that there has been a calculation you can get away with it.
For a nation to have foreign property in your land usually means they have power or money - usually both.
So it is a calculation that the cost of retrieving their possessions is more cost and bother than it is worth. Shareholders returns and 'write-offs' are important here.
Usually such nationalisation is done when the foreign country/multinational has its eye on a different, more important matter - usually a crisis.
The assumption being that the new - nationalised - circumstance will have become 'fixed' by the time the foreign country finds the opportunity to address the loss of its assets.
The 'asset' has to be worth the risk. Onshore oil fields are ideal because they are high value and can be propagandised to 'the people' as 'our land, owned by the nation' - the people - but temporarily being exploited by 'foreigners'.
The new prevailing balances of power, trade, allegiances, etc, tells the nationalising country whether it can continue to get away with it, but by enmeshing new and other multinational players in contracts to further exploit the resource, makes recompense a drawn-out 'legal' process ... a costly, Jarndyce-v-Jarndyce nightmare.
This is another sign of the strong diplomatic relations between Spain and The USA.
Nov 20th, 2013 - 01:24 pm - Link - Report abuse 0The recent trip of the Spanish Prince to the USA to celebrate the 500 years of the discovery of Florida by Poce De Leon and the arrival of the five Arleigh Burke class guided missile destroyers to Rota Spain is a good indication of this strong friendship.....
So you agree, Aussie, that the USA is siding against Argentina.
Nov 20th, 2013 - 03:48 pm - Link - Report abuse 0well we know with whom The USA sides.....don´t we.?
Nov 21st, 2013 - 01:16 pm - Link - Report abuse 0@ 12 aussie raincloud
Nov 21st, 2013 - 03:21 pm - Link - Report abuse 0“well we know with whom The USA sides.....don´t we.?”
Well, slap me down with a kipper!
I don't think that under Obuma they have the first inkling of an idea who they support; he goes with the wind.
You, on the other hand, are full of it.
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