After the US Justice ruled against the nation state for the expropriation of YPF and ordered to pay compensation that could reach 20,000 million dollars, the governor of Buenos Aires and former Minister of Economy Axel Kicillof defended the renationalization of the oil company and described the US ruling as “legal nonsense”.
“THE sentence is absolute legal nonsense. [La jueza Loretta] Preska [de la Corte del Distrito Sur de Nueva York] is the successor of [Thomas] Griesa in the same court. It is a North American court that recognizes that it has to apply Argentine justice because in reality it is a matter of Argentine jurisdiction. In addition to misapplying Argentine justice, it is a violation of Argentina’s sovereign rights to have this judged in New York. That’s why I say it everything smells familiar”, Kicillof pointed out in dialogue with radius 10.
The statements by the former head of the Palacio de Hacienda during the Cristina Kircher administration come after Argentina received a setback in the United States Justice in the trial over the expropriation of the YPF oil company, as Judge Preska he spoke out for Burford Capital and Eton Park and against the nation state.
Judge Preska ruled that Argentina was responsible but agreed to YPF’s request to dismiss the charges against it. This will oblige the nation state to repay the funds, but free YPF from this obligation.
In this context, Kicillof argued: “In any case, it is not resolved. The amount of the penalty is not determinedso these are all speculations, and secondly it will be challenged because it is absurd. It is the news of something that is incomplete and that we will have to keep fighting.”
“This is a election year, so no wonder i know put the vultures right back in the middle of the countryside. This reminds me a bit of 2015. There may be other bugs around as well. It can always be an attack by vulture funds against the same political force, even against the same people. The vultures outside are joined by the caracaras inside who want to use this to their advantage in the countryside.”
Criticizing the reaction of the opposition after the sentence was announced, the president of Buenos Aires stressed that “the The decision to expropriate YPF was taken by the National Congress a large majority where the radicals voted, voted [Miguel Ángel] Picket”.
“Recovering YPF is one of the most important political decisions of the last decades”
The Buenos Aires president has vindicated former president Cristina Kirchner’s decision to renationalise the oil company. “Recovering YPF is an example of what it was like to govern with courage and love for the country,” he stressed.
“The decision to recover YPF for Argentina is one of the most important political decisions of the last decades. It marked a before and after in terms of energy policy. There was a total emptying with the privatizations that took place in the 90s and from there YPF recovered, Vaca Muerta was launched,” he stressed.
In this sense the leader of the Frente de Todos warned: “If these elections are won by macismoif you win together for change, no doubt they will privatize YPF again. That’s what’s at stake.”
When asked about the criticisms leveled by the leaders of the opposition regarding the economic impact that the ratification of the US sentence would generate in Argentina, he replied: “They are not right. If false and illegal sentences are applied to you, they can hurt you . There is always a risk in any of these situations. What you could do is not make any decisions, which is not appropriate.”
“At that moment it was decided to recover the company and control was expropriated. What the other shareholders are doing now, against the Argentine law, namely that the YPF statute is above the expropriation law. If they claim it. In an Argentine court, surely no one would agree with them,” he said.
Finally, Kicillof questioned the opposition again: “It can be seen that they were very happy with Repsol and the voiding. All those who now seem to be against the recovery of YPF and are once again with the project to privatize it are those who celebrate “how good is Vaca Muerta” and Vaca Muerta exists because YPF has been recovered”.
“There is still a long way to go and what they have done is very arbitrary. The legal risk with any of these situations is always there. In this case, the advantage that there is, that there was and will be for Argentina is very clear, having recovered YPF”.
Source: Clarin
