Trending Now - U.S. Court Reverses $16 Billion Ruling on Argentina's Energy Seizure
WHO:
President Javier Milei, Argentina
U.S. Court of Appeals for the Second Circuit
U.S. District Judge Loretta Preska
Plaintiffs: Petersen Energía and Petersen Energía Inversora
Former left-wing leader Cristina Fernández de Kirchner
WHAT:
A New York appeals court overturned a $16.1 billion judgment against Argentina.
The court reversed a 2023 ruling that ordered Argentina to compensate former shareholders of YPF.
The appeals court had placed a previous order to transfer Argentina's 51% controlling stake in YPF on hold.
YPF reported a profit of $5 billion in 2025, its highest level in the past 10 years.
Crude production at Vaca Muerta reached nearly 600,000 barrels per day in January 2026.
WHERE:
Buenos Aires, Argentina
New York, United States
Vaca Muerta field, Patagonia, Argentina
WHEN:
The appeals court ruling occurred on March 27th, 2026.
The original judgment by Judge Loretta Preska was in 2023.
The nationalization of YPF occurred in 2012.
Cristina Fernández de Kirchner has been under house arrest since 2025.
WHY:
The ruling was celebrated by President Milei as a victory for Argentina.
Milei's government aims to limit expropriations and increase compensation for affected parties.
Milei has blamed his political opponents for the legal fallout from the YPF seizure.
HOW:
Plaintiffs were able to sue YPF in the U.S. because the company is listed on the New York Stock Exchange.
(UPDATED March 28, 2026 13:19 UTC)
A New York appeals court has overturned a $16.1 billion judgment against Argentina, reversing a 2023 ruling that ordered the country to compensate former shareholders of YPF. President Javier Milei celebrated the decision as a victory for Argentina, as his government seeks to limit expropriations and increase compensation for affected parties. The plaintiffs, Petersen Energía and Petersen Energía Inversora, were able to sue YPF in the U.S. because the company is listed on the New York Stock Exchange.