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The fate of the state -run oil company in Argentina was suspected on Monday, when the American judge in the country that suffers from financial distress ordered the abandonment of its 51 % share in YPF in a partial compensation for the seizure of the shares of the former investors during its nationalization group of 2012.
Judgment – a dramatic effort to impose a 16 billion dollars court ruling against Argentina -He shows a new headache to President Javier Miley, the ideological chips of the left Former President Christina Fernandez de Kirchner Which supervised the controversial Argentina in YPF and the legal battles that followed this during its term (2007-2015). Millie pledged to appeal the ruling.
Fernandez’s sudden move to control YPF at the time helped make the Argentina series the series more famous to give up its global financial obligations. Millie inherited an economy in chaos After decades of the reckless country spending and He was carried on pledges to privatize government companies.
When the request of the former shareholders is greatly represented by Porford Capital, which spends litigation for a share of gain New York Melon Bank Corp, the main American nursery bank, according to the ruling that Associated Press sees.
Since YPF is listed on the New York Stock Exchange, plaintiffs can file a lawsuit in a local American court. YPF 5.6 % closed.
The ruling stems from a long -term legal issue that witnessed in 2023 that Judge Perska Argentina finds responsible for $ 16.1 billion of damage and benefits. Prosecutors argue that the government should have a tender for the risks carried by minority shareholders.
Millie, whose government has struggled to build exhausted foreign reserves, pledged to appeal the ruling to “defend national interests” and blamed the problem for his political competitors.
“It has been more than 10 years, and we continue to suffer from the consequences of the worst government in the history of Argentine,” he wrote on the social media platform x.
Marcelo J. Garcia, the director of the Americans at Horizon Courgen Consult Consultance, is based on the New York Consultance, that the ruling was a reminder to the Milei administration that the country’s problems will not disappear just because it blames the opposition to them. ”
He added: “Getting on YPF is important for Milli; for this reason, the call is the only option for it.”
Paying the share of control in the YPF – which has become a pillar of the economy and its loss is in control of a decisive moment for the Miley government.
YPF has accelerated its engine to develop the huge shale gas reserves in the country in the Faka Muirta field in Argentina Patagonia. The production of crude in Faka Muirta increased steadily, as record production in May recorded 448,000 barrels per day, or more than 22.5 % over the same month in 2024, according to official data.
In 2024, YPF achieved a clear profit of about $ 2.4 billion, an increase of $ 1.3 billion in the previous year.
Millie hopes to take advantage of investments in the Faka Muirta field to treat the old financial weakness in the country and push its tremendous deficit.
