Kicillof's Remark on Milei's YPF Judgment: He deemed it a "legal absurdity," accusing Milei of siding with "foreign interests."
In a series of press conferences, Argentine Governor Axel Kicillof has fiercely criticised a recent U.S. Justice ruling that orders Argentina to hand over 51% of YPF's shares to satisfy a $16 billion judgment. Kicillof, who was the Minister of Economy when YPF was nationalised in 2012, has described the ruling as a "legal absurdity" and a "new aggression by vultures."
The U.S. ruling stems from a longstanding legal dispute over YPF, which was seized from Spanish firm Repsol. Minority shareholders, including Petersen Energia and Eton Park Capital, sued Argentina in U.S. courts over allegedly inadequate compensation. The ruling significantly impacts Argentina’s control of YPF and adds financial pressure ahead of crucial elections and economic challenges.
Governor Kicillof has also accused President Javier Milei of having a sympathy towards the Donald Trump administration. In response, Milei, a provincial leader, called Kicillof a "fool" and "idiot" for his role in the nationalization of YPF. However, Kicillof defended YPF's nationalization as an important decision, stating that recovering YPF was "one of the most important decisions" in recent history.
Kicillof has further stated that the Argentine government is not defending national interests but the interests of the United States and foreign finances. He emphasised that YPF is "not for sale," a stance he reiterated from the Province of Buenos Aires.
The Argentine government has formed a crisis committee to prepare the appeal against the ruling, as President Milei has vowed to contest the decision legally. The controversy surrounding YPF has sparked a sharp political and economic response, framing the issue as a legacy of past policies under Kicillof.
[1] "U.S. judge orders Argentina to hand over YPF shares to foreign investors." BBC News, 2025. [2] "Argentina's Milei slams Kicillof over YPF nationalization." Reuters, 2025. [3] "Argentina's YPF shares plummet after U.S. court ruling." Bloomberg, 2025. [4] "Argentina's Kicillof slams U.S. court ruling on YPF shares." Associated Press, 2025.
- The recent U.S. court ruling, ordering Argentina to relinquish a substantial portion of YPF's shares to foreign investors, has sparked a heated political debate within theArgentine business and politics realm, as well as general news platforms.
- The energy industry in Argentina is under significant pressure due to this ruling and its implications on YPF's control, which has already affected stock prices and adds to the financial strain the country faces ahead of crucial elections.
- In a stark contrast to Governor Axel Kicillof, who colloquially described the ruling as a "new aggression by vultures," President Javier Milei and other critics have accused Kicillof of favoring foreign finance and U.S. interests, over Argentine national interests, with regards to the YPF nationalization decision.
