March 12, 2014
YPF: Spain urges Argentina 'to solve this in a friendly way or obey international courts'
Spain’s Foreign Ministry José Manuel García-Margallo urged Argentina to solve in “friendly manner” the plans to expropriate a controlling 51 percent stake in YPF by seizing most of Repsol's shares, or to obey what the international courts might rule on the matter.
During a summit of EU foreign ministers, García-Margallo told reporters, “We are not challenging Argentina’s right to bet on the sovereignty of its energy resources, which for me and being in the 21st century is an error, but we challenge the fact of they expropriating a company without paying to its shareholders.”
Likewise, the minister explained that the EU Foreign Ministers Council will discuss the Repsol-YPF expropriation, but will not study any measures against Argentina as it’s something that only the European Commission can do, but “we will analyze all steps Argentina must follow to get back on the track of international legality.”
Furthermore, the Spanish official remarked that “Spain is considering all necessary measures to bring Argentina back to the negotiation table, and reestablish the dialogue”, and concluded, “We are trying to bring Argentina back to the international community.”