EU’s Ashton says Argentina Repsol seizure negative moveApril 17, 2012 - 22:02 AMT PanARMENIAN.Net - Argentina's decision to nationalize a part of Spanish oil giant Repsol sends a "very negative signal" to global investors, EU foreign affairs chief Catherine Ashton said Tuesday, April 17. Citing "cause for grave concern," the European Union's top international representative said at the European Parliament that the decision would alarm international financiers "and could seriously harm investor confidence (in) Argentina." Repsol has vowed to fight for at least $10 billion (8.0 billion euros) in compensation for the expropriation of subsidiary YPF, which was announced overnight in Buenos Aires by President Cristina Kirchner. "These acts will not remain unpunished," Repsol executive chairman Antonio Brufau said earlier as shares in his company plummeted more than seven percent on the Madrid stock market. After European Commission president Jose Manuel Barroso said he was "seriously disappointed" by the decision, Ashton said the action creates "legal insecurity for all European Union and foreign firms in the country." She added she was all the more alarmed by threats to further international investments in telecoms and banking, and said "all possible options are being analyzed," according to EUbusiness. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. India wants Armenia’s proposals on use of Chabahar port India is expecting proposals from Armenia regarding the use of Chabahar port in Iran, Indian ambassador says. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. |