Minister of Industry, Energy and Tourism, José Manuel Soria, said today that the U.S. would have liked to have had a reaction similar to that of Chile, Mexico, United Kingdom or the European Union ( EU) to the Argentine government’s decision to expropriate 51% of YPF, a subsidiary of Repsol.
Speaking to TVE, the minister has again criticized “the background and the ways” in which the expropriation was made of “a company that was considered by the Argentine government as a model until last November,” and now suffers from “a serious breach of a compromise agreement between governments “with arguments” that fall under its own weight. ”
When asked about the reaction of the U.S. administration with this measure, has argued that he would have liked more than would have been similar to those of the presidents of Mexico, Felipe Caderón, and Guatemala, Otto Perez Molina, the Minister of Foreign Affairs the United Kingdom, William Hague, or EU, which have expressed support for Spain and his concern for what happened.
The U.S. government now remains outside the conflict by the Argentine project expropriation of shares of Repsol YPF in the oil and merely reiterated yesterday that the case studies and possible “implications”.
Asked about the possibility that Chinese interests were behind this operation, Soria said “doubt” that no investor will accept this “legal uncertainty” and to be changed and the game in action “hostile and illegal” also suggests that may not be limited to a company or a country.
According Soria, when he traveled to Buenos Aires on 28 February to try to analyze the Argentine Executive the situation, some Argentine and Spanish fellow members told her the possibility that this operation is due to “a smokescreen” to hide internal problems Argentina’s economy.
Insurance has been shown that many Argentines are blushing with the way his government has acted on the expropriation and reiterated that it hurts the economy in Argentina, which is less secure now legally and need investors who do not want this type of hostile acts, he underlined.
It has also reported to have spoken with Spanish companies operating in Argentina, “also medium and small” and that he had been informed that they operate normally.
Soria has repeated this behavior at law or Argentine or international, does not change relations with the “people of Argentina” and would not advance the action “diplomatic, trade and energy” to be adopted by the Spanish Government.
Spain recalled that when he had helped Argentina crisis “playpen” and lent 1,000 million dollars, and regretted how you try to justify this hostility.
After that affect dividend policy of Repsol in Argentina obeyed the law of that country, and that she helped the Petersen group to finance its entry into the capital of YPF, recalled that Repsol investment in exploration and project have let the future find the largest deposits of hydrocarbons in the region.
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