June 19, 2013
Barroso 'seriously disappointed in Argentina'
“I am seriously disappointed about yesterday's announcement. We expect Argentine authorities to uphold their international commitments and obligations, in particular those resulting from a bilateral agreement on the protection on investments in Spain."
Argentine President Cristina Fernandez unveiled yesterday plans to take control of YPF, in which Repsol holds a share, drawing swift warnings from key trade partners.
"We emphasise the need for mutually agreed solutions which do not harm the business environment," Barroso told reporters.
YPF has been under intense pressure to boost production, and its share price has plunged due to months of speculation about a state takeover.