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Spain's Rajoy slams Argentina over seizing of YPF

By REUTERS

APRIL 17, 2012 21:00

PUERTO VALLARTA, Mexico - Spanish Prime Minister Mariano Rajoy blasted Argentina's decision to seize control of energy company YPF, a unit of Spanish oil major Repsol, saying the action would damage ties between the two countries.

"I must express my profound unease. It's a negative decision for everyone," Rajoy said on Tuesday at the World Economic Forum in Puerto Vallarta, Mexico, adding that the Spanish-controlled company was being expropriated "without any justification."

"This breaks the good understanding that has always characterized relations between our two countries and also damages Spain and Argentina," Rajoy said.

Madrid called in the Argentine ambassador in a rapidly escalating row over the nationalization order by Argentina's populist and increasingly assertive president, Cristina Fernandez. The move delighted many of her compatriots but alarmed some foreign governments and investors.

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