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.
As part of another chapter of the bitter conflict over a controversial Media Law the government of President Cristina Fernandez called on Friday for the annulment of a ruling from the Civil and Commercial Court of Appeals, which on Thursday extended an injunction placed by the Clarín Group on Article 161 of the Media Law.
Bolivian President Evo Morales Government’s decision to nationalize the main power transport company that was in hands of Red Eléctrica Española (REE) generated claims from Spain, while United States and the European Union showed their “concern.”
Spain will discuss a joint response with the United States to Argentina‘s forced nationalization of the YPF oil company, Spanish Foreign Minister Jose Manuel Garcia-Margallo said on Thursday.
The US government finally broke silence regarding the YPF controversy and expressed “deep concern’ over the expropriation plans. A State Department spokesman said on Wednesday the plans “could have an adverse effect on the Argentine economy.”