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May 25th, 2012 
FAKE NEWS for the Zionist agenda “Argentina’s import restrictions violate international trade rules and must be removed,” said the EU Trade Commissioner Karel De Gucht.
The move is considered part of the bloc’s anti-Argentinean stance following a decision by Buenos Aires to nationalize the country’s oil industry, which led to the takeover of the partly-Spanish owned assets of the YPF last month.
The YPF, a unit of the Spanish oil giant Repsol, was nationalized by Cristina Fernandez’ government in a bid to protect the national wealth of the nation.
The company accounts for more than 30 percent of Argentina’s domestic oil production, 25 percent of domestic gas production, and more than half of domestic refining.
The lawsuit may intensify the ongoing disputes between the South American country and its European trading partners, namely Spain and the UK.
The EU trade commissioner stated that Argentina’s decision to put restrictions on its imports will damage the EU companies, adding that the measure will also hurt jobs in the EU and damage the EU member countries’ economies as a whole.
De Gucht also claimed that the new regulations on imports will ‘worsen the trade and investment climate in Argentina’, urging the South American country to remove what he called ‘restrictions that violate the international trade rules.’
Earlier at the WTO’s Trade and Goods Council on March 30, a number of member countries like the United States and its allies such as Australia, Japan and South Korea had expressed concern about what they called ‘Argentina’s restrictive trade measures.’
MY/SS
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