In a monumental turning point for the Argentine economy, the New York Court of Appeals has officially overturned the ruling that ordered the country to pay over 16 billion dollars for the 2012 expropriation of YPF. This victory, described by President Javier Milei as one of the greatest legal achievements in national history, not only saves the state from a devastating financial blow but also exposes the massive debt legacy left behind by former Minister of Economy and current Governor Axel Kicillof.

The appellate court determined that the claims brought by plaintiff funds were invalid under Argentine law. This decision effectively wipes out an indemnity that, including interest, had reached nearly 18 billion dollars—roughly 45 percent of the national budget. During a national broadcast, President Milei addressed the nation to celebrate this result, which he labeled as virtually impossible when his administration took office. He pointed directly to Cristina Fernandez de Kirchner and Axel Kicillof as the architects of a suicidal adventure that put the country’s entire heritage at risk.

The impact of this ruling goes beyond a simple court victory. Analysis from La Derecha Diario shows that the total invoice of bad agreements and international lawsuits generated during Kicillof’s tenure as Minister of Economy reached a staggering 41.6 billion dollars. Thanks to the professional legal defense led by the current administration, that inherited debt has now plummeted to approximately 25.5 billion dollars. This 16 billion dollar reduction provides immediate financial relief and sends a powerful signal to global markets that Argentina is returning to a path of legal certainty and respect for private property.

President Milei reinforced his ideological stance during his speech, stating that expropriating is wrong because stealing is wrong. He argued that the 2012 nationalization led to a decade of declining investment, rising poverty, and economic stagnation. By winning this case, the government has not only protected the state treasury but has also begun to dismantle the costly legacy of economic populism. This historic ruling marks the beginning of a new era where Argentina honors its commitments and defends its interests with professional rigor rather than ideological whims.