U.S. judge orders Argentina to pay $16 billion for expropriation of YPF oil company
BUENOS AIRES, Argentina (AP) — A U.S. judge ruled that Argentina must pay $16.1 billion to minority shareholders of state-controlled oil company YPF due to the government’s 2012 nationalization of a majority stake in the firm. U.S. District Judge Loretta Preska in New York issued final judgment Friday detailing the dollar amount that the South American country would have to pay. Preska on Friday ordered Argentina to pay $14.38 billion to Petersen EnergĂa, including $7.5 billion in damages and $6.85 billion in interest and $1.7 billion to Eton Capital, including $897.75 million in damages and $816.58 million in interest. Interest will continue to accrue if Argentina fails to pay, Preska said.
