Argentina

Spanish Company Takes Argentina to World Court Over Nationalization

Stealing isn't really an acceptable policy preference

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The Spanish oil company, Repsol, which had its assets in Argentina seized in April, has taken its case to the World Bank's arbitration body in Washington.

The Argentine government nationalised Repsol's subsidiary, YPF, accusing the company of under-investing in oil production.

Repsol rejected the allegations and described the action as "expropriation".

The Spanish company is requesting compensation for its losses.