US State Department condemns Argentine expropriation of YPF Oil Company
Press TV – April 20, 2012
The US has joined Spain and Britain in condemning Argentina’s expropriation of the Spanish-owned oil and gas company, YPF, Press TV reports.
US State Department spokesman Mark Toner condemned Argentina’s nationalization of the oil company, saying his country views the act with negativity.
Toner also warned that the move would ultimately hurt Argentina’s economy.
However, the Argentine government has responded firmly to the criticism, arguing that the decision was taken based on the country’s national interests.
“The project aims at certain states’ rules to lead a strategic company. We do not govern on behalf of the US and the Spanish people,” Argentine Interior Minister Florencio Randazzo said.
Argentine President Cristina Fernandez has slammed the company for failing to re-invest in local oil and gas production, which forced Buenos Aires to pay more than USD 9 billion to import fuel last year.
On Monday, Fernandez announced the decision to reclaim YPF, which was formerly a state-owned Argentine oil company, at a meeting with her cabinet and provincial governors. She said that Argentina had to take back the oil company since it is the only nation in Latin America “that does not manage its natural resources.”
The move to declare YPF Gas a public utility by taking 51 percent of its shares is an extension of the takeover of YPF Oil Company, the major subsidiary of Repsol.
Repsol President Antonio Brufau said on Tuesday that the company would take legal action against Argentina, seeking compensation of about $10 billion.
Meanwhile, the Spanish government has also criticized the move by claiming that Argentina is taking a risk of becoming “an international pariah” if it takes control of the YPF, in which Repsol has a 57.4 percent stake.
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- Argentina to nationalize Spanish owned oil firm (alethonews.wordpress.com)
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Argentina to nationalize Spanish owned oil firm
Press TV – April 16, 2012
The Argentine government says it will present a bill to the country’s senate for the nationalization of the YPF oil company which is owned by Spanish firm Repsol.
Argentine President Cristina Fernandez said on Monday that the bill would allow the government to expropriate 51 percent of YPF shares, while the country’s oil producing provinces would get 49 percent.
“This president is not going to answer any threat, is not going to respond to any sharp remark, is not going to echo the disrespectful or insolent things said,” Fernandez said.
YPF has been under heavy pressure from the Argentine government over the past two months for not investing enough in the country’s oil fields.
The move has already been criticized by the Spanish government. Spanish officials say Argentina risks becoming “an international pariah” if it takes control of the YPF, in which Repsol has a 57.4 percent stake.
Spain is Argentina’s largest foreign investor and YPF is Argentina’s biggest oil company.
Related articles
- Repsol YPF ups Argentine shale deposit potential (seattletimes.nwsource.com)
Britain resorts to nuclear bullying against Argentina
Press TV – February 4, 2012
The UK is sending a nuclear submarine to the Malvinas Islands amid growing tensions between Britain and Argentina over the disputed territories.
According to media reports on Saturday, British Prime Minister David Cameron has personally approved the deployment of the Trafalgar-class vessel, believed to be either HMS Tireless or HMS Turbulent, in the South Atlantic.
However, a British Ministry of Defense (MoD) spokeswoman said, “We do not comment on submarine deployments.”
The heavily-armed submarine is set to be in the Malvinas waters in April for the 30th anniversary of the 1982 war which the two countries fought over the islands also known as the Falklands.
The Royal Navy has already revealed it is sending HMS Dauntless, a Type 45 destroyer, to the Falklands.
Britain’s Prince William arrived in the Malvinas on Thursday for a six-week training mission as a search and rescue pilot with the Royal Air Force (RAF).
Buenos Aires has strongly condemned Britain’s “provocative” move to post Prince William, likening it to that of a “conqueror.”
“The Argentinean people regret that the royal heir is coming to the soil of the homeland with the uniform of the conqueror and not with the wisdom of a statesman who works in the service of peace and dialogue between nations,” read an Argentine Foreign Ministry statement.
Situated about 250 nautical miles from Argentina, Malvinas has been a British colony for over 180 years.
Argentina claims sovereignty and the two countries fought a destructive 74-day war over the islands in 1982.
Related articles
- UK flexes nuclear muscles against Argentina (alethonews.wordpress.com)
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Book Review
In 2007, Michael Parenti Called Out The Greater Israel Project
The Dissident | January 28, 2026
In my last article, I covered the left-wing scholar Michael Parenti- who passed away at the age of 92 this week- and his prophetic writings on the Ukraine proxy war in 2014.
Parenti’s writings on the Israel lobby and the greater Israel project were equally prophetic.
In his 2007 book “Contrary Notions” Parenti called out “Israel First” Neo-cons and Israel’s role in the Iraq war, and predicted to a tee the future Israeli/American wars in the Middle East in service of Greater Israel and the ethnic cleansing of Palestine.
In a section of the book aptly titled “Israel First”, Parenti wrote… continue
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