ALERT: American justice cancels a heavy financial sentence which threatened to ruin the country
In breaking news, the following story has emerged from the international scene.
At a YPF gas station, in Buenos Aires, July 14, 2025. RODRIGO ABD/AP A very serious threat that weighed on Argentina and its finances for more than ten years dissipated in a single court decision, Friday March 27. A New York appeals court overturned Argentina’s order to pay $16.1 billion in compensation ($18 billion with interest, approximately 15 billion euros) for the nationalization of the Argentine oil company YPF, of which the state is still a majority shareholder. The New York judges ruled that the magistrate who made the decision at first instance, in 2023, had misinterpreted Argentine law and that the shareholders’ requests were unfounded. They pointed out that the $16 billion in compensation represented about 45% of Argentina’s 2024 budget. This turnaround was celebrated as saving by the entire political arc, first and foremost the ultraliberal president, Javier Milei. During an official speech, surrounded by his most important officials, the Head of State welcomed, on Friday, “an event of historic magnitude”. ” Pay [les indemnisations] would have represented a huge obstacle on the path to our economic recovery,” said Javier Milei. He estimated that the sum claimed, the equivalent of “70 million minimum pensions”, would have destroyed the existence of YPF and led “to the ruin of the Argentine State”. “The greatest legal risk that the Argentine state had disappears,” assured Sebastian Amerio, Treasury prosecutor, coordinating the state’s defense in this case, interviewed by the Argentine newspaper Clarin on Friday. You have 72.51% of this article left to read. The rest is reserved for subscribers.
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Source: This article was originally published in another language by International : Toute l’actualité sur Le Monde.fr. and has been translated and adapted for our global English-speaking audience. Read the original article here.