YPF trial: The 12 "historic" support measures Argentina received to avoid handing over the company

The National Treasury Attorney's Office reported this Friday that 12 entities, including countries and organizations, have formally filed amicus curiae (friends of the court) on behalf of Argentina to argue that the 51% of the state's shares in YPF should not be deposited in New York, United States. For the government, this represents "historic support."

The complete list of filings in support of the Argentine Republic in the Second Circuit Court of Appeals in New York, pending the turnover appeal hearing to be scheduled after December 12, includes the United States, Israel, Italy, France, Ecuador, Uruguay, Chile, Ukraine, and Romania .

Also present were the United States Chamber of Commerce in Argentina (AmCham), the Bank Policy Institute, and the American Bankers Association .

Deputy Treasury Attorney General Juan Ignacio Stampalija stated: "The government of Javier Milei, through coordinated work between the Foreign Ministry, the Treasury Attorney General's Office, and other areas, has achieved extremely strong international support for the country's position."

For example, the United States government "has reiterated its support for Argentina for the third time in a year" and warned that "the position that there is no immunity from execution for offshore sovereign assets is inconsistent with U.S. law and customary international law," it was officially reported.

This support builds on previous submissions the Department of Justice made in November 2024 under the Joe Biden administration and in July 2025 under President Donald Trump, when it supported Argentina's defense.

In the case of Israel , "it is worth noting that this is the first time that the government has appeared as amicus curiae in a case of this nature. Supporting the Argentine position, it stated that the order in question is contrary to the principles of state immunity under customary international law and could give rise to a completely unpredictable global immunity regime."

On October 29, the appeal hearing will be held on the final judgment requiring the country to pay $16.1 billion plus interest at an annual rate of 5.24% (which already amounts to nearly $2 billion extra) for the events arising from the expropriation of YPF in 2012.

"The national government will continue to exercise its right to defense in this case through all available procedural, diplomatic, and political resources to protect its property rights and the country's strategic interests, seeking a fair solution compatible with the current legal framework," the Treasury Attorney's Office concluded.

Thus, for the umpteenth time, it has closed the door to negotiations with Burford Capital, the financier of the Petersen and Eton Park lawsuit, beneficiaries of Judge Loretta Preska's ruling.