U.S. Court Forces Argentina to Surrender Control of YPF, Undermining Milei’s Reform Agenda
A U.S. judge’s order for Argentina to hand over its majority stake in state oil company YPF deepens the nation’s economic crisis and challenges President Milei’s promise to restore fiscal responsibility.
In a stark reminder that reckless nationalization has lasting consequences, a U.S. federal judge has ordered Argentina to relinquish its controlling 51% stake in YPF, the country’s flagship state-run oil company. This dramatic ruling enforces a $16 billion judgment stemming from Argentina’s 2012 expropriation of shares held by minority investors, under the watch of former left-wing president Cristina Fernández de Kirchner.Argentina’s government, now led by libertarian President Javier Milei — who campaigned fiercely against decades of economic mismanagement — faces a formidable legal challenge that threatens national sovereignty and economic stability. The court-mandated transfer of shares to Bank of New...
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