Repsol YPFRepsol YPF

Relations between Spain and Argentina became strained this past week after President Cristina Fernández de Kirchner announced that the Argentine state was to expropriate 51 per cent of the oil company YPF Repsol.

Cristina Fernández de Kirchner
The European Union and expressed support for Spain’s rejection to such expropriation action. Repsol through its chairman Antonio Brufau calls for 8,000 million euros to indemnify the action.

This direct attack on Repsol YPF nationalization has started big concern on Spanish investing companies, also has created doubts into the international investment community.

The British press described as the great detriment of foreign business interests and ultimately harm the economy because
this act will reduce Argentina’s attractiveness to international investors. Action that goes against the commitment that Argentina did in the G-20 wanted to promote transparency.
We believe that Mrs. Kirchner is not doing any favour to the Argentinians.

No intervenga YPF

 

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