US appeals court overturns judgment against Argentina's YPF as President Milei celebrates
AP News • • business
Key Points:
- A New York appeals court overturned a $16.1 billion judgment requiring Argentina to compensate former shareholders of the nationalized energy company YPF, reversing a 2023 lower court ruling.
- Argentine President Javier Milei celebrated the decision, calling it a victory for the country and announcing a bill to limit expropriations and increase compensation for affected parties.
- The nationalization of YPF in 2012 under former leader Cristina Fernández de Kirchner had led to legal disputes and damaged Argentina's international financial reputation.
- YPF, now state-controlled, has significantly boosted Argentina's shale gas production in the Vaca Muerta field, with record profits reported in 2025.
- The legal case highlights ongoing tensions between Argentina’s efforts to manage state assets and the interests of foreign investors, with Milei blaming previous administrations for the crisis.
