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Argentina says US Justice Dept backs bid to halt discovery in YPF nationalization case
Reuters· 2026-03-14 16:55
Group 1 - The U.S. Justice Department supports Argentina's request to suspend the discovery process in a New York court case related to the 2012 nationalization of YPF, arguing that the current discovery is overly intrusive and violates international principles [1][3] - Argentina is seeking to halt the discovery process and withdraw a contempt motion filed by plaintiffs Petersen Energía Inversora and Eton Park Capital Management, who were awarded $16.1 billion in damages [3] - Argentina asserts that the case should be governed by Argentine law and claims that the discovery demands are disproportionate, while the current administration has fully cooperated with legal requests [3] Group 2 - Under President Javier Milei's government, Argentina has strengthened economic ties with the U.S., which has become a key supporter of Argentina's plans to attract international investment [4] - YPF is Argentina's largest oil and gas company, aiming to become a global energy exporter by developing the Vaca Muerta shale formation, which holds the world's second-largest shale gas reserves and fourth-largest shale oil reserves [4]