Mexico blasts YPF expropriation plans, Chile 'concerned'

Mexican President Felipe Calderón said the decision to expropriate YPF was not “very responsible nor very rational.” The Chilean government also expressed 'concern' after the controversial announcement. 

The decision, which “clearly violates agreements and treaties” regarding reciprocal respect for investments “will not amount to anything,” Calderón said in a conference he gave in Mexico. 

“It is very regrettable, because this will not be good for anyone, especially the Repsol investors, where Pemex owns close to 10 percent of its shares.”

At the same time, the Chilean government expressed concern after the announcement. Government spokesman Andrés Chadwick told members of the press present at the La Moneda Palace that President Cristina Fernández de Kirchner’s decision “will directly affect our country.” 

Chadwick said their concern is based on the fact that Chilean oil company Empresa Nacional del Petróleo (ENAP) and Repsol are partners, for which the Argentine decision to expropriate the company could damage the partnership between both companies.

“When it was clear that there was a possibility of expropriation, while speaking at the Cartagena Summit, president Sebastián Piñera said that we had interests in to look after in this matter, because as it happens, Repsol has a subsidiary that is partners with the ENAP, for which this clearly affects us,” he explained.