A Major Win for President Milei’s Administration

Buenos Aires, Argentina – In a significant diplomatic and legal victory for President Javier Milei’s administration, the United States government has officially announced its support for Argentina’s claim in the ongoing YPF lawsuit. This crucial backing will see the U.S. Department of Justice filing an amicus curiae brief in the New York Court of Appeals, robustly supporting Argentina’s defense against Burford Capital’s aggressive request to seize 51% of YPF shares.

This powerful intervention by the U.S. aims to influence the Court of Appeals to suspend the immediate execution of Judge Loretta Preska’s ruling, which previously ordered Argentina to pay a staggering USD 16 billion for the expropriation of YPF in 2012. The U.S. government’s action, while primarily focused on halting the judgment’s execution, signals strong international recognition of Argentina’s legal position and the broader implications of the case.

This move underscores the growing strategic alliance between Argentina and the United States under President Milei’s leadership. It reflects a shared commitment to upholding international legal norms and ensuring fair processes, particularly in complex investment disputes. It is noteworthy that a similar supportive action was taken by the U.S. government last year, even under a different administration, highlighting the bipartisan significance of this case.

This show of support from the United States further strengthens President Milei’s hand in navigating complex international legal challenges, demonstrating the global confidence in his administration’s commitment to responsible governance and economic stability.