September 9, 2023, 08:23
The Southern District of New York court ordered Argentina to pay compensation for the nationalization of the oil and gas company YPF.
According to La Nacion newspaper, the payment could reach $16 billion.
According to the publication, Judge Loretta Preska refused to take into account all of Argentina’s arguments and determined the most unfavorable parameters for the country for calculating compensation to the Burford Capital fund. The resolution does not specify the exact amount, but according to the resulting formula, the payment reaches $16 billion.
At the same time, the spokeswoman for the Argentine Presidential Administration, Gabriela Cerruti, announced the country’s government’s intention to appeal the court’s decision.
In July, Argentina blocked the entry of a ship carrying LNG from Russia due to sanctions.
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