Argentina’s Senate Approved the Expropriation of YPF project

Argentina's Senate Approved the Expropriation of YPF project

The Argentine Senate approved on Thursday, by a large majority, the government’s project law supporting the expropriation of 51% of YPF’s shares to the Spanish oil company Repsol, reported EFE.

The initiative, promoted by the government of Cristina Fernandez, was approved by 63 votes in favor, three against and four abstentions after nearly 15 hours of debate, detailed the Spanish news agency.

The opinion will go to the House of Representatives and, if approved, could become a law next week. (ARL)