Argentina Appeals US Court Order to Relinquish YPF Stake

Argentina is appealing a U.S. court order that requires it to transfer its 51% stake in the energy company YPF SA to satisfy a $16 billion judgment stemming from the 2012 nationalization of YPF. The order, issued by U.S. District Judge Loretta Preska, determined that Argentina's controlling stake is not protected by foreign sovereign immunity, compelling the government to hand over the shares to a group led by litigation funder Burford Capital. Argentina argues that complying with the order would violate its domestic law, which requires a two-thirds congressional vote to transfer the stake, and is seeking an emergency delay from the federal appeals court in New York while its appeal is considered. The legal battle has broader implications for state ownership of critical energy resources and international business relations. YPF's management has distanced itself from the litigation, with the company's CEO stating that the lawsuit concerns the Republic, not YPF itself. Analysts remain optimistic about YPF's stock performance despite the ongoing legal uncertainties, with forecasts showing upside potential and an "Outperform" recommendation from brokerages.