This week’s controversial move by the Argentine government to partially nationalize Yacimientos Petroliferos Fiscales (YPF), the local subsidiary of Madrid-based oil giant Repsol, has provoked an international imbroglio, with the Spanish government threatening retaliation over the plan.
The Wall Street Journal said in an editorial Tuesday that Repsol should fight for compensation from Argentina and its combative president Cristina Kirchner, who most recently made waves about wresting back the potentially oil-rich Falkland Islandsknown as Las Malvinas to Argentinesfrom the U.K. Bloomberg reports that the bid by the Argentine state to take control of YPF is the largest natural resource renationalization since Russia seized control of Yukos in 2003.
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