President Javier Milei celebrated this Friday on national television the favorable ruling for Argentina in the United States in the YPF litigation. In his message, he described the result as an unprecedented event and maintained that it was a resolution that “was virtually
impossible”.
During his speech, the president announced that the Government will promote a project to modify the Expropriations Act, within the framework of a broader review of the role of the State in the economy and legal security for investments.
In a critical tone, Milei pointed directly at former president Cristina Fernández de Kirchner and Buenos Aires governor Axel Kicillof, who were the protagonists of the expropriation of YPF in 2012. The head of state rejected both attempts to claim the judicial result and described this position as “an affront
to Argentines”.
As he stated, the decision to move forward with the nationalization of the oil company was “a suicidal adventure that could have cost us everything”, warning that the country was at risk of losing the company and facing a critical economic scenario. Along these lines, he argued that a possible adverse ruling would have a negative impact on key variables such as country risk, interest rates and growth
.
The President also insisted on a substantive definition of the expropriation process. He pointed out that “expropriating is wrong, because stealing is wrong” and considered that the violation of that principle led to more than a decade of falling investment, increasing poverty
and deteriorating employment.
At the same time, sectors linked to Kirchnerism also welcomed the ruling and rejected the Government's criticism. Both Cristina Kirchner and Kicillof argued that the trial lacked support and defended the decision taken
in 2012.
Finally, Milei pointed against what he defined as the effects of economic populism, which he held responsible for prioritizing immediate results to the detriment of medium and long-term consequences. In this framework, he affirmed that the true defense of strategic resources requires clear rules, respect for property and conditions that favor sustained development
.
