Overview
- Argentina says 12 amici — including the United States, Israel, Italy, France (via a diplomatic letter), Ecuador, Uruguay, Chile, Ukraine, Romania, and U.S. industry groups AmCham, the Bank Policy Institute and the American Bankers Association — have filed in support of its position.
- The Second Circuit has stayed any turnover of the state’s 51% stake in YPF and set oral argument for October 29, with plaintiffs’ briefs due November 14 and Argentina’s reply due December 12.
- The U.S. Department of Justice backed Argentina for a third time in a year, warning that executing against extraterritorial sovereign assets conflicts with the Foreign Sovereign Immunities Act and customary international law.
- AmCham’s brief argues the order would force Argentina to violate its Law 26.741 requiring a two‑thirds congressional vote to dispose of the state’s YPF stake and warns of economic risks given YPF’s scale in fuel supply and exports.
- A 2023 ruling by Judge Loretta Preska awarded roughly US$16.1 billion and ordered turnover of the shares, while three provincial governors have sought to intervene, citing potential impacts on provincial patrimony and resource rights.